Uttara Bank

Annual Report | 2016 10
Letter of Transmittal
All Shareholders,
Bangladesh Bank,
Bangladesh Securities and Exchange Commission,
Registrar of Joint Stock Companies & Firms,
Dhaka Stock Exchange Limited and
Chittagong Stock Exchange Limited.
Subject: Annual Report for the year ended 31 December 2016.
Dear Sir(s),
We are delighted to enclose a copy of the Annual Report 2016 together with the audited Financial Statements
as at the position of 31 December 2016. The report includes Income Statements, Cash Flow Statements along
with notes thereon of Uttara Bank Limited and its subsidiaries namely “UB Capital & Investment Limited”
and “Uttara Bank Securities Limited”.
This is for your kind information and record please.
Best regards.
Yours sincerely,
Iftekhar Zaman
Executive General Manager & Secretary
10 Annual Report | 2016

CONTENTS
Notice of the 34th Annual General Meeting 4
Corporate Information 5
Highlights of 33rd Annual General Meeting 6
Board of Directors 8
Executive Committee, Audit Committee & Risk Management Committee 9
Directors’ Profiles 10
Message from the Chairman 18
Message from the Vice Chairman 20
Message from the Managing Director & CEO 22
CEO and CFO’s declaration to the Board 25
Report of the Audit Committee 26
Photo Album 28
Name of the Executives 36
Some activities of Uttara Bank Limited 37
Directors’ Report 46
Five years at a Glance 82
Corporate Governance 83
Certificate on compliance status of Corporate Governance Guidelines of BSEC 84
Report on Green Banking 88
Report on Risk Management 90
Auditors’ Report 110
Consolidated Financial Statements 112
Financial Statements- Uttara Bank Limited 118
Notes to the Financial Statements 124
Highlights on overall activities of the Bank 188
Annexures 189
Financial Statements- Off-Shore Banking Unit 193
Report on Corporate Social Responsibility 200
Value Added Statement 202
Economic Value added Statement 203
Market Value Addition Statement 204
Disclosures on Risk Based Capital (Basel –III) 205
Credit Rating Report (Surveillance) 225
List of the Branches under different Zones 226
Map of the Bangladesh showing the Branches-District wise 227
List of Branches Authorized to handle Foreign Exchange 228
List of Foreign Correspondents 230
Auditors Report to the Shareholders of Uttara Bank Securities Ltd. 236
Financial Statements of Uttara Bank Securities Ltd. 237
Auditors Report to the Shareholders of UB Capital and Investment Ltd. 254
Financial Statements of UB Capital and investment Ltd. 255

CORPORATE INFORMATION
Name of the Company : Uttara Bank Limited
Legal Form : Uttara Bank Limited had been a nationalized bank in the name of Uttara
Bank under the Bangladesh Bank (Nationalization) Order 1972, formerly
known as the Eastern Banking Corporation Limited which started
functioning on and from 28 January 1965. Consequent upon the
amendment of Bangladesh Bank (Nationalization) Order 1972, the Uttara
Bank was converted into Uttara Bank Limited as a public limited
company in the year 1983. The Uttara Bank Limited was incorporated as
a banking company on 29 June 1983 and obtained business
commencement certificate on 21 August 1983. The Bank floated its
shares in the year 1984. It has 229 branches all over Bangladesh through
which it carries out all its banking activities. The Bank is listed in the
Dhaka Stock Exchange Limited and the Chittagong Stock Exchange
Limited as a listed company for trading of its shares.
Registered Office : 47, Shahid Bir Uttam Asfaqus Samad Sarak,

Motijheel Commercial Area, Dhaka-1000, Bangladesh.
GPO Box: 818 & 217
Telephone : PABX 9551162
Tele-fax : 88-02-7168376, 88-02-9553081,

88-02-9560820 & 88-02-9568941
Swift Code : UTBLBDDH
Email : headoffice@uttarabank-bd.com, pa.md@uttarabank-bd.com

prd@uttarabank-bd.com, ublmis@uttarabank-bd.com
Website : www.uttarabank-bd.com
Chairman : Mr. Azharul Islam
Vice Chairman : Mr. Iftekharul Islam
Managing Director & CEO : Mr. Mohammed Rabiul Hossain
Company Secretary : Mr. Iftekhar Zaman
Chief Financial Officer (CFO) : Mr. Md. Golam Mustafa, FCA

HIGHLIGHTS OF 33rd ANNUAL GENERAL MEETING
The Directors attending the 33rd Annual General Meeting
Signature verification of the Shareholders
A view of the Shareholders attending the 33rd Annual General Meeting

BOARD OF DIRECTORS AT A MEETING
Mr. Azharul Islam, Chairman presiding over a meeting of the Board of Directors

BOARD OF DIRECTORS
Chairman Mr. Azharul Islam
Vice Chairman Mr. Iftekharul Islam
Members Mr. Syed A.N.M. Wahed Director
Engr. Tofazzal Hossain Director
Mr. Arif Rahman Director
Mr. Abul Barq Alvi Director
Dr. Md. Nazmul Karim Chowdhury Independent Director
Mr. M. Tajul Islam Director
Mr. Md. Kamal Akhtar Independent Director
Dr. Md. Rezaul Karim Mazumder Independent Director
Col. Engr. M.S. Kamal (Retd.) Director
Mr. Asif Rahman Director
Mr. Faruque Alamgir Director
Mr. Shaikh Abdul Aziz Director
Mr. Mohammed Rabiul Hossain Managing Director & CEO
Secretary Mr. Iftekhar Zaman

EXECUTIVE COMMITTEE
Chairman Mr. Azharul Islam

Vice-Chairman Mr. Iftekharul Islam
Members Mr. Abul Barq Alvi
Mr. M. Tajul Islam
Col. Engr. M.S. Kamal (Retd.)
Mr. Asif Rahman
Mr. Mohammed Rabiul Hossain (Managing Director & CEO)
AUDIT COMMITTEE
Chairman Dr. Md. Rezaul Karim Mazumder

Members Dr. Md. Nazmul Karim Chowdhury
Mr. Md. Kamal Akhtar
Mr. Faruque Alamgir
Mr. Shaikh Abdul Aziz
RISK MANAGEMENT COMMITTEE
Chairman Mr. Iftekharul Islam

Members Col. Engr. M.S. Kamal (Retd.)
Mr. Faruque Alamgir
Mr. Mohammed Rabiul Hossain (Managing Director & CEO)
AUDITORS
Shafiq Basak & Co. Rahman Mostafa Alam & Co.

Chartered Accountants Chartered Accountants

DIRECTORS' PROFILE
Mr. Azharul Islam is the Chairman of the Board of Directors of the

Uttara Bank Limited. Revered by all his business acumen, Mr. Azharul
Islam, a business tycoon of the country, was born on the 3rd
November in 1948 and hails from a respectable Muslim family of
Kishoregonj. He obtained his graduation and post-graduation degree
from Dhaka University. He is also the Chairman of the Executive
Committee of the Board of Directors of Uttara Bank Limited. An
industrialist and a philanthropic personality, Mr. Azharul Islam is the
Founder and Executive Chairman of the Aftab Group of Industries. He
is also a member in the General Body of Bangladesh Association of
Mr. Azharul Islam Banks (BAB). A prominent and reputed industrialist, Mr. Azharul
Chairman Islam is involved in the business of Real Estate, Manufacturing,
Construction and Infrastructure, Milk-Products, Agro Foods, Frozen
Foods/Fisheries, Fertilizer & Chemicals, Textiles, Garments, Auto-
Bricks, Information Technology, etc.
Mr. Iftekharul Islam, a prominent and promising industrialist of the

country is the Vice Chairman of Uttara Bank Limited. He comes of a
noble and respected Muslim family of Kishoregonj district. He was
born on the 15th July in 1980. He is a commerce graduate. Mr.
Iftekharul Islam is also the Chairman of Risk Management Committee
and Vice Chairman of the Executive Committee of the Bank. Mr.
Islam is the Chairman of UB Capital and Investment Limited and
Uttara Bank Securities Limited. He is also a member in the General
Body and the Executive Committee of Bangladesh Association of
Banks (BAB).
Mr. Iftekharul Islam Mr. Iftekharul Islam, one of the top check industrialists in Bangladesh,
Vice Chairman
is the Chairman and Managing Director of Aftab Group of Industries.
Mr. Iftekharul Islam involves in Textiles, Ready Made Garments,
Food, Fertilizer & Pesticide, Industrial Pump Production, CNG
Refueling & Conversion businesses which are the valued partner to
economic development of Bangladesh. Mr. Islam operates his global
businesses through his overseas offices located in different countries
dealing with a wide range of innovative products and services and
brand building.
Mr. Islam is the Managing Director of Aftab Global Foundation and
AIMS Corporation Ltd.- philanthropic organizations and performing
his responsibilities to the Nation.

Mr. Syed A.N.M Wahed hails from a reputed and noble family of
Moulvibazar District. He was born on the 16th November in 1939. He
obtained his B.Sc Engineering degree from the Bangladesh University
of Engineering & Technology (BUET) and M.Sc Engineering degree
from the United States of America (USA). He has 54 years working
experience. He was the Chief Engineer and Chairman of WASA and
retired as Director General of Environment, Govt. of Bangladesh. He
also served as adviser of Sheba Phone. A philanthropic personality,
Mr. Syed A.N.M. Wahed was also Vice President of Bangladesh
Paribesh Andolon (BPA) on honorary basis. He is a member of the
Mr. Syed A.N.M Wahed Board of Directors of Uttara Bank Limited. Mr. Syed A.N.M. Wahed
Director is involved in social welfare activities.
Engr. Tofazzal Hossain hails from a noble family of Dhaka District.

He was born on the 9th September in 1948. He is a B.Sc. Engineer
(Mechanical) from Bangladesh University of Engineering and
Technology (BUET) and worked with full reputation as Mechanical
Engineer both at home and abroad. He held honorable and responsible
position in various organizations. He has 46 years working experience.
He is a member of the Board of Directors of Uttara Bank Limited. He
is also a renowned social worker.
Engr. Tofazzal Hossain

Director
Mr. Arif Rahman, was born on the 24th November in 1970 in

Shariatpur district. He comes of a noble and respectable Muslim
family. He has business experience of 18 years. He is a member of the
Board of Directors of Uttara Bank Limited. He is also a Director of
M/s.Bengal Trade Ways Ltd. Mr. Arif Rahman is also a social worker.
He is a member of Gulshan Club and Banani Club.
Mr. Arif Rahman

Director

Mr. Abul Barq Alvi was born in a reputed Muslim family on the 2nd
January, 1949 in Pabna District. He obtained B.A. (Hons) degree in
Fine Art from the Dhaka University. He also obtained Post Graduate
degree in Fine Art from Tsukuba University of Japan and completed
research on this subject. He joined as a lecturer in the faculty of Fine
Art of Dhaka University in 1972 and served as a Professor of the
faculty of Fine Art of Dhaka University till his retirement. He has 46
years professional experience. He is gentle, amiable and polite in
nature. He is a member of the Board of Directors and also a member of
the Executive Committee of the Bank. He has been reappointed
Mr. Abul Barq Alvi Director of the Bank considering his heartiest endeavour and active
Director participation for overall development of the business of Uttara Bank
Limited. A successful and kind hearted man, Mr. Alvi is involved in
different social and cultural development activities.
Dr. Md. Nazmul Karim Chowdhury, an Independent Director of the

Bank, was born in a reputed Muslim family on 15th November, 1949 in
Noakhali District. He obtained B.Com (Hons) degree in 1969 and
M.Com (Management) degree in 1970 from Dhaka University. He
obtained LLB degree from Central Law College of Dhaka University in
1972. He also obtained MBA degree from Leuven University of
Belgium in 1980. Besides, he obtained Ph.D degree from Brussels
University of Belgium in 1984. As a young professional, he is honored
by the European Commission Headquarter, Brussels. Dr. Chowdhury is
an internationally recognized educationist and professional intellectual.
Dr. Md. Nazmul Karim Chowdhury
He is at the same time a teacher, writer, researcher, lawyer and an
Independent Director adviser. He was a lecturer of Management at Dhaka College during the
period from 1972 to 1973. He was appointed as a faculty member in the
department of Management of Dhaka University in 1973. He was a
professor of Management and director of EMBA program of Dhaka
University till 2016. Dr. Chowdhury served the Islamic Development
Bank (IDB) Headquarter, Jeddah as International Professional and
Director for more than ten years on lien from Dhaka University. He is
also an honorary treasurer and life member of Asiatic Society,
Bangladesh. Besides, he holds important posts of many Government
and Non-Government organizations and educational institutions. He is
also involved in many social welfare activities. He was appointed
Independent Director of Uttara Bank Limited on 2014. He is one of the
members of the Board of Directors of the Bank. He is also a member of
the Audit Committee of the Bank. He has 45 years of professional
experience. In 2016, Dr. Chowdhury joined as Vice-Chancellor of
Fareast International University, Dhaka, Bangladesh. He is gentle,
amiable and polite in nature and possesses a good sense of humanity.

Mr. M. Tajul Islam, a Director of Uttara Bank Limited, hails from a
respectable Muslim family of Bhola District. He was born on the 15th
January in 1949. He obtained B.Com (honours) in 1969 and M.Com in
1970 from Dhaka University. Mr. M. Tajul Islam, a retired
Government Official, served in the Government Office in different
positions and retired as Joint Secretary. He is a member of the Board
of Directors and the Executive Committee of Uttara Bank Limited.
Now, he is working as Director (Planning & Development) in
Bangladesh College of Physicians and Surgeons (BCPS). He is
amiable and friendly in nature. He is also a social worker.
Mr. M. Tajul Islam
Director
Mr. Md. Kamal Akhtar, an Independent Director of the Bank, was born
on the 11th July in 1949 in a respectable Muslim family of Khulna. He
has completed Masters in Commerce with honours in Accounting, MA in
Economics & MBA from Institute of Business Administration (IBA),
Dhaka University and later MS in Business Administration from
University of Bath, England. He started his career in BFIDC under
Ministry of Industry in 1973. As a Dynamic person, he served in various
organizations namely: Bangladesh Forest Industries Development
Corporation (BFIDC), Bangladesh Institute of Management (BIM),
Bangladesh Export Processing Zone Authority (BEPZA) etc. He also
Mr. Md. Kamal Akhtar worked as Investment Promotion Expert and Consultant of Maxwell
Independent Director Stamp Limited- Bangladesh in a number of projects financed by the
World Bank. He has participated in various training programs & seminars
in many countries viz. Thailand, Sri lanka, Hongkong, S.Korea, Japan
and the UK. He has 36 years of professional experience. He has a
significant contribution in the field of Investment Promotion and Business
Development. He has a good number of publications to his credit mainly
relating to labor law & industrial investment and policy. Mr. Akhtar was
appointed Independent Director of Uttara Bank Limited on the 11th May,
2015. He is one of the members of the Board and also a member of the
Audit Committee of the Bank. He is a philanthropic personality and
friendly in nature.

Dr. Md. Rezaul Karim Mazumder, an Independent Director of the
Bank, comes of a respectable and noble family of Comilla district. He
was born on the 12th June in 1947. He obtained his B.Sc and M.Sc
degree from Dhaka University. He did his PhD degree from the
University of Dhaka in collaboration with Indian Institute of
Technology (IIT), Delhi. Formerly, he was a professor (Selection
Grade) and Chairman of Applied Physics, Electronics and
Communication Engineering of Dhaka University. Dr. Md. Rezaul
Karim Mazumder had been the Dean of the faculty of Engineering and
Technology of the Dhaka University during the period from 2011-
Dr. Md. Rezaul Karim Mazumder
2012. He retired from the service of Dhaka University in 2012. He was
Independent Director also the Professor and Head of the Department of Electronics and
Telecommunications Engineering, University of Liberal Arts
Bangladesh, Dhanmondi, Dhaka. He is possessing 45 (forty five) years
of professional experience. He is the Chairman of the Audit
Committee of the Board of Directors of Uttara Bank Limited. He is
also an eminent social worker.
Col. Engr. M. S. Kamal (Retd.) comes of a respectable and noble family

of Feni District. He was born on the 10th January in 1949. He is a B.Sc
Engineer from Bangladesh University of Engineering & Technology
(BUET). He served in the Electrical and Mechanical Engineer Corps of
Bangladesh Army for 30 years. During his tenure of service in the army,
he served as Chief Logistic Officer (CLO) in United Nations Iraq-Kuwait
Observer Mission (UNIKOM) during the period from 1998-1999. He also
served as Director Production and Quality Control of Sena Kalyan
Sangsta (SKS) during the period 1997 – 1998. He was Deputy Director
Production and Quality Control of Bangladesh Ordnance Factory (BOF)
Col. Engr. M. S. Kamal (Retd.)
during 1989 – 1992. He attended course on Aircraft Maintenance/ Repair
Director Course in USA in 1980. He also attended Course on Tank
Maintenance/repair course in China in 1984. Before his retirement from
the Army, he served as Inspector, Electrical and Mechanical Engineer
Corps Bangladesh Army. He retired from the Army in January 2002 as
Colonel. Now he is working in a private organization as Executive
Director. He was appointed as Independent Director of the Board of
Directors on 13 November 2007. Lastly, he was reappointed Independent
Director of the Bank on 19th May 2011. He resigned from the post of
Independent Director of Uttara Bank Limited on 24 March 2014. Lastly,
he has been appointed as Director of Uttara Bank Limited on 11 May
2014 in the Annual General Meeting. He is the member of Executive
Committee and Risk Management Committee of the Board of Directors
of Uttara Bank Limited. He is a good sports man and Captained
Bangladesh University of Engineering & Technology (BUET) Cricket
Team during the period from 1967-1969. He is a fellow of Institution of
Engineers Bangladesh and also a member of Retired Armed Forces
Officers Welfare Association (RAOWA).

Mr. Asif Rahman, a rising and prominent business man, was born on
the 12th January in 1977 in a respectable and noble family of
Shariatpur District. He obtained Bachelor degree in Economics from
Buckingham University, London and MBA from North South
University, Bangladesh. He has 17 years business experience. He is a
member of the Board of Directors of Uttara Bank Limited and also a
member of the Executive Committee of the Board of Directors of
Uttara Bank Limited. He is a Director of M/s. Bengal Trade Ways Ltd.
and Chairman of CHB Building Technologies Ltd. and Proprietor of
Mr. Asif Rahman Bengal Sourcing Limited. Mr. Asif Rahman is a philanthropist and
Director
social activist as well. He is a member of Gulshan Club, Dhaka Club,
Flying Club, Kurmitola Golf Club and Banani Club.
Mr. Faruque Alamgir was born on the 5th November in 1946 in a

respectable Muslim family of Comilla. He obtained M.A degree from
the University of Dhaka. He also did his LLB. He is a retired Govt.
Officer. He has 36 years working experience in various responsibilities
and capacities. He is a member of the Audit Committee and the Risk
Management Committee of the Board of Directors of the Bank. He is a
veteran social worker and is connected with Local and International
Peace and Solidarity Organizations. He has travelled to many countries
of Europe, South Asia & USA. He is a freelancer and a poet.
Mr. Faruque Alamgir
Director

A veteran banker and a dynamic leader, Mr. Shaikh Abdul Aziz is an
ardent promoter of the concept of sustainable development of banking
business. As the Managing Director (MD) and Chief Executive Officer
(CEO) of Uttara Bank Limited, Mr. Aziz has successfully improved
the International business and ethical banking in Uttara Bank Limited
(UBL) and transformed the Bank into the newest valuable financial
brand in the country. Under his leadership Online Banking System has
been introduced in the Uttara Bank Limited.
Mr. Shaikh Abdul Aziz comes of a noble and respectable Muslim
Mr. Shaikh Abdul Aziz family. He was born on the 10th May in 1951. He obtained M.Sc
Director
degree in Applied Chemistry from Dhaka University in 1974 (Exam
held in 1976). He started his Banking career as Probationary Officer
with Uttara Bank Limited (UBL) in 1977. After serving in the different
departments/offices of the Uttara Bank Limited very successfully in
the key positions for more than 39 years, Mr. Shaikh Abdul Aziz was
appointed Managing Director and CEO of Uttara Bank Limited (UBL)
in 2011.
An achiever throughout the banking career and widely travelled Mr.
Shaikh Abdul Aziz attended different seminars/ symposiums/
workshops on banking both at home and abroad. He received training
on “Strategic Leadership” from Said Business School, University of
Oxford, UK; “Corporate Governance & Strategic Management” from
University of California, Berkeley, USA and “Strategic Management”
from INSEAD Business School, France. Most amiable in nature and
formerly a reputed Banker, Mr. Shaikh Abdul Aziz became a Director
of Uttara Bank Limited in October 2016. Mr. Aziz was also a Director
of UB Capital and Investment Limited and Uttara Bank Securities
Limited, subsidiaries of Uttara Bank Limited.

A financial services and banking professional, Mr. Mohammed
Rabiul Hossain was born in a noble Muslim family on the 31st
December, 1960 in Noakhali District. He has obtained M.Sc in
Chemistry and MBA in Finance & Accounting. He also obtained
“Advanced Certificate in Business Administration (ACBA)” degree
jointly offered by IBA of Dhaka University and Association of
Management Development Institution in South Asia (AMDISA). He
has started his Banking career as Probationary Officer with Uttara
Bank Limited in 1987. His hands-on approach has resulted in
Mr. Mohammed Rabiul Hossain capturing numerous successes for expanding the business of the Bank.
Managing Director & CEO His charismatic leadership role helped him to adorn the post of
Manager in different branches and Zonal Head in 03 (three) Zonal
Offices of the Bank. While carrying out his duties as Managers and
Zonal Head, he excelled in customer finance, new customer
acquisition in various cultures and places. He was also In-charge of
Bank’s Corporate Branch before joining at Head Office as Executive
General Manager.
He was appointed Deputy Managing Director of Uttara Bank Limited
in 2013 and has been holding the position of CAMLCO of the Bank
since then. Moreover, he oversees the affairs of some strategic
divisions/ departments like International Division, Internal Control &
Compliance Division (ICCD), Business Promotion Department, Asset-
Liabilities Management Department, Recovery Department and
Treasury Division (Back Office) of the Bank. He has been serving the
Bank for more than 29 years with his expertise, administrative
capabilities, proactive decision making capabilities and delivering
sound financial advice, providing exceptional customer service, and
matching proper products and services to Banks client’s needs and
goal. Due to his distinctive role playing and state of the art
performance in the development of the bank, he was appointed as
Managing Director and CEO in 2016.
His adequate foreign tours in countries like Belgium, France,
Germany, India, Indonesia, Malaysia, Myanmar, Singapore, Spain,
Srilanka, Switzerland, the KSA, Thailand and Turkey for participation
in training, workshop, seminars and for business and personal visit/
purpose helped him to understand the banking business carried out in
numerous cultures and diversities.

Message from the Chairman
Dear Shareholders,
It gives me great pleasure to address and welcome you all to the 34th Annual General Meeting of
the Bank.I take this opportunity to express my sincere gratitude and heartfelt thanks for your
trust and support. On behalf of the Board of Directors and from my own behalf, I have the
pleasure to present the Annual Report of Uttara Bank Limited for the year 2016 before you.
Bangladesh economy grew by 7.1 percent, exceeding the 7.0 percent growth target and the 6.0
percent growth trajectory. This strong growth was mainly supported by industry and service
sectors.
Agriculture growth deceleration stems from lower growth (0.9 percent) in crops and horticulture.
Industry sector grew robustly by 11.1 percent in FY16, buoyed by power, gas and water supply,
and mining and quarrying sub-sectors. The services sector improved its performance in FY16
and grew by 6.3 percent. Private sector credit grew by 16.8 percent in FY16, above the targeted
growth of 14.8 percent and actual the growth of 13.2 percent in FY 15. Lower lending rate,
foreign financing facilities and political stability contributed to higher growth against the target
of private sector credit. Broad money (M2) recorded a higher growth of 16.3 percent in FY 16
against the targeted growth of 15.0 percent and 12.4 percent actual growth in FY 15.

Export grew by 8.9 percent, while import by 5.5 percent in FY 16. Remittances, however, ended
up with a negative growth of 3.0 percent during the same period. Foreign exchange reserves
reached USD 30.2 billion at the end of FY16, around 8 months of prospective import. Average
inflation in Bangladesh has declined gradually over the last couple of years.
Uttara Bank Limited is sincerely committed to creating shareholders’ wealth constantly. The
bank has the heritage of giving good dividend to the shareholders for the last many years. The
bank is determined to follow this stable dividend policy depending on bank’s earnings. Because
of the Bank’s good fundamentals and stable dividend policy, the investor reposed their trust on
the bank. Despite facing growing challenges, the bank succeeded in maintaining double digit
dividend for the year 2016.
At the end of the year Bank’s Deposits and Loans & Advances stood at Tk.134,951.61 million
and Tk. 83,311.09 million which is 10.25% and 9.90% respectively higher than that of the year
end position of 2015.The Earning per Share (EPS) for the year 2016 was Tk. 3.86 (consolidated)
which is considered praiseworthy as against the industry average at the moment. Capital to Risk
Weighted Assets Ratio (CRAR) of the Bank stood at 13.58% (consolidated) against the
regulatory requirement of 10.625% including conservation buffer.
Uttara Bank Limited under its Annual Expansion Plan, opened 2 (two) branches in 2016 and the
total number of branches of the bank stood at 229 all over the country.
As a part of Corporate Social Responsibility (CSR), Uttara Bank Limited undertook diversified
programs in 2016 to make a positive and meaningful contribution to the society. During the year
the bank contributed to the Prime Minister’s Relief and Rehabilitation Fund, Family of martyred
army officer killed in BDR carnage, cultural heritage, contributed for treatment of poor patients
and other related fields. The bank also donated blankets to the Prime Minister’s Relief and
Rehabilitation Fund for distributing among the cold hit people of the country.
I would like to express my gratitude to the Government of Bangladesh, Bangladesh Bank,
Bangladesh Securities and Exchange Commission, Registrar of Joint Stock Companies and
Firms, the Stock Exchanges for their continued support and guidance. I would also like to
express my thanks to all valued clients, patrons, well wisher, shareholders for their continued
support and cooperation.
I also thank our Management and the members of the staff for their loyalty, support and
relentless efforts for the bank’s qualitative improvements.
Before I conclude, I would like to thank all of you again for your gracious presence and the keen
interest you have shown in the bank.
Azharul Islam
Chairman

Message from the Vice Chairman
Respected Shareholders,
It is my immense pleasure to welcome you to the 34th Annual General Meeting of the bank. I
would like to take this opportunity to express my heartfelt gratitude and sincere thanks for your
trust and confidence upon us that we all by our concerted efforts will bring the bank to a greater
height of prosperity. I humbly acknowledge your continued cooperation and support to achieve
our goals.
World trade volume growth is projected to decrease from 2.6 percent in 2015 to 2.3 percent in 2016 and
then increase to 3.8 percent in 2017. Trade balances in advanced economies are expected to deteriorate in
2016 and 2017 since export growth is projected to be weaker than import growth. The growth rate of
imports for advanced economies is expected to decrease from 4.2 percent in 2015 to 2.4 percent in 2016
and increase to 3.9 percent in 2017.
Bangladesh economy grew by 7.1 percent, exceeding the 7.0 percent growth target and the 6.0 percent
growth trajectory. This strong growth was mainly supported by industry and service sectors.
Agriculture growth deceleration stems from lower growth (0.9 percent) in crops and horticulture.
Industry sector grew robustly by 11.1 percent in FY16, buoyed by power, gas and water supply, and
mining and quarrying sub-sectors. The services sector improved its performance in FY16 and grew by
6.3 percent. Private sector credit grew by 16.8 percent in FY16, above the targeted growth of 14.8

percent and actual the growth of 13.2 percent in FY 15. Lower lending rate, foreign financing facilities
and political stability contributed to higher growth against the target of private sector credit. Broad
money (M2) recorded a higher growth of 16.3 percent in FY 16 against the targeted growth of 15.0
percent and 12.4 percent actual growth in FY 15.
Export grew by 8.9 percent, while import by 5.5 percent in FY 16. Remittances, however, ended up with a
negative growth of 3.0 percent during the same period. Foreign exchange reserves reached USD 30.2
billion at the end of FY16, around 8 months of prospective import. Average inflation in Bangladesh has
declined gradually over the last couple of years.
The near and medium term outlook for Bangladesh economy looks positive, supported by higher
domestic and foreign investments, buoyant trade, capital inflows and favourable inflationary environment.
At the end of the year Bank’s Deposits and Loans & Advances stood at Tk. 134,951.61 million
and Tk. 83,311.09 million which is 10.25% and 9.90% respectively higher than that of the year
end position of 2015.The Earning per Share (EPS) for the year 2016 was Tk. 3.86 (consolidated)
which is considered praiseworthy as against the industry average at the moment.
Uttara Bank Limited always extends its cooperation and generously comes forward whenever
nation faces any disastrous situation or natural calamity. Being a socially responsible corporate
body, Uttara Bank Limited continued its CSR activities throughout the year. During the year the
bank contributed to the Prime Minister’s Relief and Rehabilitation Fund, Contributed for
treatment of poor patients, Family of martyred army officer killed in BDR carnage, cultural
heritage, and other related fields. The bank also donated blankets to the Prime Minister’s Relief
and Rehabilitation Fund for distributing among the cold hit people of the country.
Lastly, I am grateful to our customers, shareholders and regulators especially Government of
Bangladesh, Bangladesh Bank and Bangladesh Securities and Exchange Commission for their
trust and confidence in our capability and thankful to members of the Board of Directors for their
guidance and support. My sincere thanks to all the employees of Uttara Bank Limited for their
hard work and commitment.
In conclusion, I would like to thank you all for your kind presence in the 34 th Annual General
Meeting of the bank.
Iftekharul Islam
Vice Chairman

Message from the Managing Director & CEO
It is a great honour and a pleasant experience for me to present the performance of the bank for
the year 2016 before the honourable shareholders of the Bank. Uttara Bank Limited has passed
another eventful year in terms of its development. At this august moment, I would like to express
my heartfelt thanks and gratitude to our respectable shareholders, valued clients, distinguished
patrons and well wishers whose cooperation and continuous support have helped us to achieve
the steady growth.
Bangladesh economy grew by 7.1 percent, exceeding the 7.0 percent growth target and the 6.0
percent growth trajectory. This strong growth was mainly supported by industry and service
sectors.
Lower lending rate, foreign financing facilities and political stability contributed to higher
growth against the target of private sector credit. Broad money (M2) recorded a higher growth of
16.3 percent in FY 16 against the targeted growth of 15.0 percent and 12.4 percent actual growth
in FY 15.Export grew by 8.9 percent, while import by 5.5 percent in FY 16. Remittances,
however, ended up with a negative growth of 3.0 percent during the same period. Foreign

exchange reserves reached USD 30.2 billion at the end of FY16, around 8 months of prospective
import. Average inflation in Bangladesh has declined gradually over the last couple of years.
The near and medium term outlook for Bangladesh economy looks positive, supported by higher
domestic and foreign investments, buoyant trade, capital inflows and favourable inflationary
environment.
In 2016, all out efforts were continued to progress in business aiming at improving the deposit
mix, growing and diversifying the portfolio and maintaining a steady growth in profit. The
deposit stood at Taka 134,951.61 million as at the end of 2016 from Taka 122,407.64 million of
2015 having growth of 10.25%. Loans and advances stood at Taka 83,311.09 million as at the
end of 2016 from Taka 75,806.89 million in 2015 having growth of 9.90%. Profit after tax
(cosolidated) grew by Taka 31.73 million having a growth of 2.10%.
In maintaining adequate capital against overall risk exposure of the bank, our guiding philosophy
was to strengthen risk management and internal control. Uttara Bank Limited has been
generating most of the incremental capital from retained profit (stock dividend, statutory reserve,
general reserve, etc.) to support incremental growth of Risk Weighted Assets (RWA). Uttara
Bank’s eligible capital as on 31 December 2016 stood at Taka 12,540.69 million (consolidated).
At the end of 2016, Capital to Risk Weighted Assets Ratio (CRAR) was 13.58% (consolidated)
against regulatory requirement of 10.625% including conservation buffer.
During the year 2016, the bank expanded its operation through opening 2 (two) branches at
different places across the country. As a result, total number of branches of the bank as on
31.12.2016 stood at 229. Moreover, a number of branches were shifted to new premises in more
suitable places and a large number of branches were furnished and modernized. More branches
will be opened in 2017 to expand businesses following the guidelines of Bangladesh Bank.
Like many other innovative banking services in the country, the bank has already introduced
SMS banking and internet banking.
Small and Medium Enterprise (SME) plays an important role in the economy in terms of
balanced and sustainable growth, employment generation and contribution to GDP. Uttara Bank
Limited strongly believes that SME sector is one of the main driving forces of economic growth
having huge potential of socio-economic development. The outstanding SME loans as on
31.12.2016 stood at Taka 49,071.40 million which was 58.90% of total loans & advances of the
bank. The bank is also considering to increase the SME portfolio to a remarkable extent position
within next two/three years.
In line with Bangladesh Bank directives, Uttara Bank has been disbursing agricultural credit
through its own branches and also using NGOs. The outstanding balance in this sector stood at
Taka 2,090.80 million at the end of 2016.
Uttara Bank Limited always extends its cooperation and generously comes forward whenever the
nation faces any disastrous situation or natural calamity. Being a socially responsible corporate
body, Uttara Bank Limited continued its CSR activities throughout the year. During the year
2016, the bank contributed to the Prime Minister’s Relief and Rehabilitation Fund, Family of
martyred army officer killed in BDR carnage, cultural heritage, Contributed for treatment of
poor patients and other related fields. The bank also donated blankets to the Prime Minister’s
Relief and Rehabilitation Fund for distributing among the cold hit people of the country.

As part of Green Banking, Uttara Bank Limited is providing support to the activities that are not
harmful to the environment and various measures have been adopted to ensure Green Banking.
Among others, green financing, creating awareness among employees for efficient use of water,
electricity and paper, use of renewable energy and use of energy saving bulbs are some of the
instances.The outstanding balance in this sector stood at Taka 89.88 million at the end of 2016.
The savings of school going students can play a vital role in the economic development of our
country. Bearing this in mind, Uttara Bank Limited introduced “School Banking” at all branches
in order to build up awareness about banking among the school going students. So far the bank
has been able to open 78,981 savings accounts and total deposited amount in those accounts as
on 31.12.2016 was Taka 418.80 million.
Competent and quality work force is a pre-condition for continuous growth and success of a
bank and the bank took the endeavours to keep improving the skills, knowledge and productivity
of the employees. During the year the Training Institute of the bank arranged various courses,
workshops and seminars on every aspects of banking on regular basis. To keep the employees
motivated and retained incentives, promotion, etc. are given on regular basis. Improved trainings
are also being imparted to the different levels of officers through BIBM and foreign institutions.
I would like to convey my sincere thanks and gratitude to the Government Agencies, Bangladesh
Bank, Bangladesh Securities and Exchange Commission, Registrar of Joint Stock Companies
and Firms, Dhaka and Chittagong Stock Exchanges Limited for their cooperation and support for
the development of the bank.
I convey my gratitude to the Chairman, Vice Chairman and the members of Board of Directors
of Uttara Bank Limited for their prudent guidance, support and cooperation in achieving bank’s
cherished goals.
Finally, thanks to my beloved colleagues for their efforts and dedications in achieving the
inspiring results.
Mohammed Rabiul Hossain

Managing Director & CEO

10 April 2017
To
The Board of Directors
Uttara Bank Limited
Head Office
Dhaka
Subject: Certificate of Managing Director & CEO and Chief Financial Officer (CFO) to the Board.
In terms of the Notification of Bangladesh Securities and Exchange Commission (BSEC) bearing
No. SEC/CMRRCD/2006-158/134/Admin/44 dated 07 August 2012, we, the undersigned
Managing Director & CEO and Chief Financial Officer (CFO) do hereby certify that:
(i) We have reviewed the financial statements for the year ended 31 December 2016 of
Uttara Bank Limited (UBL) and to the best of our knowledge and belief:
a) these statements do not contain any materially untrue statement or omit any material
fact or contain statements that might be misleading;
b) these statements together present a true and fair view of the company’s affairs and are
in compliance with existing accounting standards and applicable laws.
(ii) There are, to the best of knowledge and belief, no transactions entered into by the
company during the year which are fraudulent, illegal or violation of the company’s code
of conduct.
Md. Golam Mustafa, FCA Mohammed Rabiul Hossain

Chief Financial Officer (CFO) Managing Director & CEO

REPORT OF THE AUDIT COMMITTEE
In compliance with Bangladesh Bank guidelines and Bangladesh Securities and Exchange
Commission (BSEC) Notification on corporate governance, the Audit Committee of the Board of
Uttara Bank Limited has been functioning as a sub-committee of the Board of Directors. It has
been assisting the Board in ensuring that financial statements reflects true and fair view of the
state of affairs of the bank and in ensuring a good monitoring system within the business.
The principal functions of the Audit Committee, among others, are to oversee the financial
reporting process, monitor internal control, risk management process and review the adequacy of
internal audit function and regulatory compliance functions.
The particulars of the members of the Audit Committee as on 31 December 2016 are as follows:
SL No Name of the Director Designation Status

1 Dr. Md. Rezaul Karim Mazumder Independent Director Chairman
2 Dr. Md. Nazmul Karim Chowdhury Independent Director Member
3 Mr. Md. Kamal Akhtar Independent Director Member
4 Mr. Faruque Alamgir Director Member
5 Mr. Shaikh Abdul Aziz Director Member
The Company Secretary acts as the secretary of the Audit Committee.
During the year 2016, the Audit Committee held 8 (eight) meetings in which among others, the
following issues were taken up and disposed of:
1. The Committee reviewed the inspection reports of the different branches of the Bank
conducted by the Bank’s Internal Inspection Teams from time to time.
2. The Committee reviewed management’s actions regarding appropriate/suitable Management
Information System (MIS) of the bank.
3. The Committee reviewed and approved the Internal Control and Compliance Guidelines
2016.
4. The Committee examined the Financial Statements of the Bank for the year 2015 and
exchanged views with the Management and External Auditors on the issue.
5. The Committee reviewed the First Quarter (Q1), Half-Yearly and Third Quarter (Q3)
Financial Statements (Un-Audited) for the year 2016 before submission to the Board for
approval in compliance with the BSEC’s Corporate Governance Guidelines 2012.
6. The Committee took up the comprehensive inspection report of Bangladesh Bank and made
recommendation thereagainst.
7. The Committee reviewed the Management Report of the Bank for the year ended on 31
December 2015 as submitted by the External Auditors.

8. Audit Committee observed that the Board of Directors (BOD) have periodic review meeting
with the Senior Management/ MANCOM to discuss the effectiveness of the Internal Control
System and implementation of recommendations of Internal and External Auditors and
regulatory authorities.
9. The Committee perused the Core Risk Management Guidelines including Internal Control
and Compliance Risk along with compliance thereof.
10. The Committee reviewed the status of recovery of classified loans and instructed the
Management to reduce the Non Performing Loans (NPLs).
11. The Committee ensured that the Bank became successful in building a strong and suitable
compliance culture on the internal control system of the Bank and the staffs/ officers of the
Bank were instructed clearly regarding their duties and responsibilities.
12. The Audit Committee of the Bank ensured that the Management of the Bank fulfilled/
complied with the recommendation of the Internal and External Auditors of the Bank for
building up Internal Control Technique/ Structure of the Bank given from time to time.
13. The Audit Committee ensured that the complete and appropriate information was
incorporated in the Annual Financial Report and the said Financial Report was prepared
considering the Accounting Standard of the existing laws of the country and as per guidelines
issued by Bangladesh Bank and other regulatory bodies.
14. The Audit Committee reviewed the internal Audit activities and ensured that Audit activities
are free from any interference of the Management.
15. The Audit Committee reported on its activities to the Board of Directors through placement
of minutes of the Committee meeting.
16. The Audit Committee of the Bank regularly reported to the Board regarding regularization of
the deficiencies, fraud-forgeries detected by the Internal and External Auditors and Inspectors
of the regulatory authorities/ Bodies.
The minutes of Audit Committee meetings containing various suggestions and

recommendations are placed to the Board for ratification on regular basis.
On behalf of the Audit Committee
Dr. Md. Rezaul Karim Mazumder

Chairman of the Audit Committee

PHOTO ALBUM
Mr. Azharul Islam, Honourable Chairman of Uttara Bank Ltd. has inaugurated upgraded website of Uttara bank
Limited as chief guest. The programme was presided over by Mr. Mohammed Rabiul Hossain,
Managing Director & CEO of the Bank.

PHOTO ALBUM
Mr. Iftekharul Islam, Honourable Vice-Chairman of Uttara Bank Ltd., opens the Bank’s 23rd ATM booth in
Uttara, Dhaka. Mr. Mohammed Rabiul Hossain, Managing Director & CEO of the Bank was also present.

PHOTO ALBUM
Honourable Prime Minister of the People’s Republic of Bangladesh Sheikh Hasina receiving winter clothes
(Blanket) for PM’s Relief & Welfare Fund from Dr. Md. Rezaul Karim Mazumder & Col. Engr. M.S. Kamal
(Retd.), Honourable Directors of Uttara Bank Limited.

PHOTO ALBUM
SENIOR MANAGEMENT
From Left
Mr. Sultan Ahmed , Deputy Managing Director

Mr. Mohammed Mosharaf Hossain, Additional Managing Director
Mr. Mohammed Rabiul Hossain, Managing Director & CEO
Mr. Maksudul Hasan, Deputy Managing Director
Mr. Md. Abdul Quddus, Deputy Managing Director

PHOTO ALBUM
SENIOR EXECUTIVES
From Left
Sitting
Mr. Sultan Ahmed, Deputy Managing Director
Mr. Mohammed Mosharaf Hossain, Additional Managing Director
Mr. Mohammed Rabiul Hossain, Managing Director & CEO
Mr. Maksudul Hasan, Deputy Managing Director
Mr. Md. Abdul Quddus, Deputy Managing Director
Standing
Mr. Md. Golam Mustafa (FCA), Executive General Manager & CFO
Mr. Uttam Kumar Barua, Executive General Manager
Mr.Md. Abul Hashem, Executive General Manager
Mr. Md. Reaz Hasan, Executive General Manager
Mr. Md Abdur Razzaque, Executive General Manager
Mr. Md. Siddiqur Rahman, Executive General Manager
Mr. Iftekhar Zaman, Executive General Manager

PHOTO ALBUM
Senior Management Team (SMT)
Left to Right Right to Left

Mr. Md. Rabiul Hasan Deputy General Manager Mr. Md. Rafiul Islam General Manager
Mr. Saroware Alam Deputy General Manager Mr.Md. Moklesun Nabi General Manager
Mr. Khandaker Ali Samnoon General Manager Mr. Md. Muzammel Haque General Manager
Mr. S.S.K.M Aszad General Manager Mr.Md. Abul Hashem Executive General Manager
Mr. Md. Abdur Rouf General Manager Mr. Md. Aminuddin Bhuiyan General Manager
Mr. Md. Osman Ghani General Manager Mr. Hasan Mahmud General Manager
Mr. Md. Golam Mostafa General Manager Mr. Alamgir Hossain Howlader General Manager
Mr. Iftekhar Zaman Executive General Manager Mr. Md. Mahfuzur Rahman General Manager
Mr. Md. Reaz Hasan Executive General Manager Mr. Md. Siddiqur Rahman Executive General Manager
Mr. Md Abdur Razzaque Executive General Manager Mr. Md. Golam Mustafa (FCA) Executive General Manager & CFO
Mr. Uttam Kumar Barua Executive General Manager Mr. Md. Abdul Quddus Deputy Managing Director
Mr. Maksudul Hasan Deputy Managing Director Mr. Sultan Ahmed Deputy Managing Director
Mr. Mohammed Mosharaf Hossain Additional Managing Director Mr. Mohammed Rabiul Hossain Managing Director & CEO

PHOTO ALBUM
Risk Management Committee (RMC)
Left to right Right to left

Mr. Khandaker Ali Samnoon Mr. Md. Mizanur Rahman
General Manager Deputy General Manager
Mr. Md. Muzammel Haque Mr. Md. Rafiul Islam

General Manager General Manager
Mr. Alamgir Hussain Howlader

General Manager
Mr. Iftekhar Zaman

Executive General Manager
RMC Mr. Md. Amin Uddin Bhuiyan
General Manager
Mr. Md. Mahfuzur Rahman

General Manager
Mr. Md. Golam Mustafa, FCA Mr. Md. Abul Hashem

Executive General Manager Executive General Manager
Mr. Maksudul Hasan Mr. Mohammed Mosharaf Hossain Mr. Sultan Ahmed Mr. Md. Abdul Quddus
Deputy Managing Director Additional Managing Director Deputy Managing Director Deputy Managing Director
Mr. Mohammed Rabiul Hossain


PHOTO ALBUM
Asset Liability Committee (ALCO)
Left to right Right to left
Mr. Md. Mizanur Rahman Mr. Salah Uddin

Deputy General Manager SPO & In Charge of ALMD
ALCO
Mr. Khandaker Ali Samnoon Mr. Amin Uddin Bhuiyan
General Manager General Manager
Mr. Md. Abul Hashem Mr. Md. Golam Mustafa, FCA

Executive General Manager Executive General Manager & CFO
Mr. Maksudul Hasan Mr. Md. Abdul Quddus

Deputy Managing Director Deputy Managing Director
Mr. Mohammed Mosharaf Hossain Mr. Sultan Ahmed

Additional Managing Director Deputy Managing Director


NAME OF THE SENIOR EXECUTIVES
Additional Managing Director
Mr. Mohammed Mosharaf Hossain
Deputy Managing Directors
Mr. Maksudul Hasan
Mr. Sultan Ahmed
Mr. Md. Abdul Quddus
Executive General Managers
Mr. Uttam Kumar Barua
Mr. Md. Golam Mustafa, FCA
Mr. Md. Abdur Razzaque
Mr. Md. Reaz Hasan
Mr. Iftekhar Zaman
Mr. Md. Siddiqur Rahman
Mr.Md. Abul Hashem
GENERAL MANAGERS
Mr. Syed Shaikhul Imam Mr. Md. Rafiul Islam
Mr. Alamgir Hussain Howlader Mr. Md. Moklesun Nabi
Mr. Md. Ashraf-uz-Zaman Mr. Md. Mahfuzur Rahman
Mr. Md. Golam Mostafa Mr. Tariqur Rahman
Mr. Md. Aminuddin Bhuiyan Mr. S.S.K.M. Aszad
Mr. Md. Osman Ghani Mr. Md. Qudrat-E-Hayet Khan
Mr. Hasan Mahmud Mr. Md. Muzammel Haque
Mr. Md. Abdur Rouf Mr. Md. Fakhrul Islam
Mr. Khandaker Ali Samnoon Mr. Syed Saidur Rahman
DEPUTY GENERAL MANAGERS

Mst. Marzina Khatun Mr. Md. Saroware Alam Mr. Md. Nurul Amin Sarker
Mr. Md. Nurul Islam Pathan Mr. Kabidas Majumder Mr. Md. Abdul Khaleque Miah
Mr. Syed Md. Saleh Uddin Mrs. Gita Rani Mondal Mr. Md. Rabiul Hasan
Mr. Nitish Kumar Biswas Mr. Md. Mahbubur Rahman Mr.S.M. Reazur Rahman
Mr. A.T.M. Motabber Mr. Kazi Rayhan Kabir Mr. Safiqul Islam
Mr. Md. Ahsan Sarwar Mr. Md. Kamruz- Zaman
Mr. Md. Omar Faruque
Mr.Md. Nuruzzaman Mr. Humayun Alam Rumi
Mr. Moniruzzaman Chowdhury Mr. A.K.M. Shamsul Karim Mr. Md. Rokonuzzaman
Mr. Md. Abdus Salam Mr. Md. Abul Hashem Mr. Md. Rezaul Karim
Mr. Saroj Kumar Kundu Mr. Md. Khaled Bashar Mr. Md. Rafiqul Islam Khan
Mr. Md. Idrish Ali Mr. Md. Mizanur Rahman Mr. Md. Najmul Huda
Mr. Mohd. Khairul Alam Mr. Md. Mahbubur Rahman Mr. Md. Shah Reza
Mr.Md. Ashraf Hussain Mr .Md. Noore Alam Siddik Mr. Kazi Mofakkharul Islam
Mr. Mohammad Salim Mr. Md. Ibrahim Uddin Mr. Md. Moksedur Rahman
Mr. Md. Selim Uddin Mr. Md. Rakib-Ul-Hasan

SOME ACTIVITIES OF THE BANK IN 2016
Mr. Azharul Islam, Honourable Chairman of the Board of Directors of Uttara Bank Ltd., opens its 229th
Branch named “Sarojgonj Branch” in Chuadanga under Khulna Zone.
Mr.Mohammed Rabiul Hossain, Managing Director & CEO of the bank inaugurating a new branch
“Panchagarh Branch” (228th) at Panchagarh under Bogra Zone.

The Honourable Chairman of the bank Mr. Azharul Islam delivering his valuable speech as Chief Guest at
1st Zonal Heads’ Conference-2016.
Mr. Azharul Islam, Honourable Chairman of Uttara Bank Ltd., delivering his valuable speech as Chief
Guest at 2nd Zonal Heads’ Conference-2016.

The Managing Director & CEO of the bank Mr. Mohammed Rabiul Hossain presiding over the 3rd Zonal
Heads’ Conference-2016.
The Honourable Chairman of the bank Mr. Azharul Islam delivering his valuable speech as Chief Guest at
4th Zonal Heads’ Conference-2016.

Mr. Mohammed Rabiul Hossain, the then Deputy Managing Director of Uttara Bank Ltd. and Mr. Syed Mohammad
Musa, Director (Operation) of NID registration wing, signed an agreement at Election Commission Secretariat, Dhaka on
be half of their respective organization recently. Managing Director & CEO of the Bank Mr. Shaikh Abdul Aziz and
Brigadier General & DG of NID Mr. Sultanuzzaman Md. Salehuddin were also present.
Mr. Shaikh Abdul Aziz, Managing Director & CEO of the Bank speaks at the Bank’s Second Branch Managers’
Conference of Chittagong Zone at Zonal Office Premises in Chittagong.

Managing Director & CEO of the Bank, opens the new premises for our Chowmuhani Branch under Comilla Zone.
Mr. Mohammed Rabiul Hossain, Managing Director & CEO of Uttara Bank Ltd. speaks at the Bank’s fourth
Branch Managers’ Conference-2016 of Sylhet Zone at Sylhet Branch Premises in Sylhet.

Mr. Mohammed Rabiul Hossain, Managing Director & CEO of Uttara Bank Ltd. and Swapan kumar Roy,
GM of Bangladesh Bank’s SME & Special Programme Department are signing an agreement of “Refinance
Scheme for agro based industries in Rural Area” at Bangladesh Bank auditorium in the capital recently.
Mr. Shaikh Abdul Aziz, Managing Director & CEO of the Bank, speaking as Chief Guest at a Workshop on
“Prevention of Money Laundering & Terrorist Financing” at the Bank’s Auditorium.

Mr. Mohammed Rabiul Hossain, Managing Director & CEO of Uttara Bank Ltd. speaking as Chief Guest
at a Development Workshop on “Human Resources Development Programme”
at the Bank’s Training Institute Auditorium.
Mr. Mohammed Rabiul Hossain, Managing Director & CEO of Uttara Bank Ltd. attending at the Bank’s 9th
(ninth) Branch Managers’ Conference-2016 of Mymensingh Zone at Zonal Office Premises in Mymensingh.

Honourable Managing Director & CEO of the Bank opens ATM booth of Uttara Bank Limited
at Rail Road in Jessore.
Mr.Mohammed Rabiul Hossain, Managing Director & CEO of Uttara Bank Ltd. is seen at the Bank’s
Branch Managers’ Conference-2016 of Comilla Zone at BARD, Kotbari in Comilla.

Mr.Mohammed Rabiul Hossain, Managing Director & CEO of Uttara Bank Ltd. speaks at the Bank’s Branch
Managers’ Conference-2016 of Bogra Zone at Zonal Office Premises in Bogra.
A meritorious student belongs to Uttara family is being honored with a crest for brilliant result in the H.S.C.
exam 2015 by the Principal of bank’s training institute at Shantinagar in Dhaka. Mr. Uttam Kumar Barua,
EGM & Md. Golam Mustafa, FCA, EGM & CFO, were also present.

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Compliance of Section 1.5 (XX) of Notification No. SEC/CMRRCD/2006-158/134/Admin/44

dated 07 August, 2012.
Board Meeting during the period from 1st January 2016 to 31st December 2016 and attendance by each Dircector:
Sl. No. Name Total Meeting Held Attendance

1 Mr. Azharul Islam 24 23
2 Mr. Iftekharul Islam 24 12
3 Mr. Syed A. N. M. Wahed 24 23
4 Engr. Tofazzal Hossain 24 14
5 Mr. Arif Rahman 24 18
6 Mr. Abul Barq Alvi 24 21
7 Dr. Md. Nazmul Karim Chowdhury 24 23
8 Mr. M. Tajul Islam 24 24
9 Mr. Md. Kamal Akhtar 24 24
10 Dr. Md. Rezaul Karim Mazumder 24 23
11 Col. Engr. M. S. Kamal (Retd.) 24 22
12 Mr. Asif Rahman 24 07
13 Mr. Faruque Alamgir 24 20
14 Mr. Shaikh Abdul Aziz 24 04
15 Mr. Mohammed Rabiul Hossain 24 15

The pattern of shareholdings as on 31.12.2016
i). Parent/ Subsidiary/ Associated Companies and other related parties: Nil
ii). Shareholding of Directors:
% of Shares
Sl. Total Shares
Name Position as on
No. held
31.12.2016
1 Mr. Azharul Islam Chairman 20,529,721 5.131
2 Mr. Iftekharul Islam Vice-Chairman 11,952,323 2.987
3 Mr. Syed A. N. M. Wahed Director 40,075 0.010
4 Engr. Tofazzal Hossain Director 40,075 0.010
5 Mr. Arif Rahman Director 8,004,150 2.001
6 Mr. Abul Barq Alvi Director 39,949 0.010
Independent
7 Dr. Md. Nazmul Karim Chowdhury - -
Director
8 Mr. M. Tajul Islam Director 19,870 0.005
Independent
9 Mr. Md. Kamal Akhtar - -
Director
Independent
10 Dr. Md. Rezaul Karim Mazumder - -
Director
11 Col. Engr. M. S. Kamal (Retd.) Director 40,074 0.010
12 Mr. Asif Rahman Director 9,682,850 2.420
13 Mr. Faruque Alamgir Director 3,339 0.001
14 Mr. Shaikh Abdul Aziz Director 4,000 0.001
Managing
15 Mr. Mohammed Rabiul Hossain
Director & CEO
- -
iii). Shareholding of CEO, CFO, Company Secretary & Head of Internal Audit:
1 Chief Executive Officer and his spouse and minor children Nil
2 Company Secretary and his spouse and minor children Nil
3 Chief Financial Officer and his spouse and minor children Nil
4 Head of Internal Audit and his spouse and minor children Nil
iv). Shareholdings of Executives (Top five salaried persons other than CEO, CFO, CS and HIA): Nil
v). Shareholders holding 10% or more voting interest in the company: Nil

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DIRECTORS’ REPORT
Respected Shareholders
World trade volume growth is projected to
Assalamu Alaikum
decrease from 2.6 percent in 2015 to 2.3 percent
The Board of Directors feels delighted to take in 2016 and then increase to 3.8 percent in 2017.
the opportunity to present the 34th Annual Trade balances in advanced economies are
Report of Uttara Bank Limited along with expected to deteriorate in 2016 and 2017 since
audited Financial Statements for the year export growth is projected to be weaker than
2016. A short overview of the World import growth. The growth rate of imports for
Economic Scenario and Developments in the advanced economies is expected to decrease
Bangladesh Economy has been provided in from 4.2 percent in 2015 to 2.4 percent in 2016
the report. Uttara Bank Limited has been and increase to 3.9 percent in 2017.
abled to maintain satisfactory growth amidst
stiff competition in the concerned year. Developments in Bangladesh Economy
Bangladesh economy grew by 7.1 percent,
World Economic Scenario
exceeding the 7.0 percent growth target and
Global growth is expected to be tepid at 3.1 the 6.0 percent growth trajectory. This strong
percent in 2016, down from 3.2 percent in growth was mainly supported by industry and
2015 (World Economic Outlook, October service sectors. Agriculture growth
2016). Growth however is projected to rise up deceleration stems from lower growth (0.9
to 3.4 percent in 2017. Advanced economies percent) in crops and horticulture. Industry
are expected to grow by 1.6 percent in 2016, sector grew robustly by 11.1 percent in
0.5 percentage points lower than in 2015, FY16, buoyed by power, gas and water
edging up to 1.8 percent in 2017.However, supply, mining and quarrying sub-sectors.
emerging markets and developing economies The services sector improved its performance
are projected to grow by 4.2 percent in 2016, in FY16 and grew by 6.3 percent. Private
0.2 percentage points higher than in 2015, sector credit grew by 16.8 percent in FY16,
rising further to 4.6 percent in 2017. above the targeted growth of 14.8 percent
and actual the growth of 13.2 percent in FY
US growth is expected to decrease to 1.6 15. Lower lending rate, foreign financing
percent in 2016 from 2.6 percent in 2015 and facilities and political stability contributed to
increase to 2.2 percent in 2017. Reflecting the higher growth against the target of private
adverse impact from Brexit, growth in the sector credit. Broad money (M2) recorded a
Euro area has been revised downward to 1.7 higher growth of 16.3 percent in FY 16
percent and 1.5 percent in 2016 and 2017 against the targeted growth of 15.0 percent
respectively from 2.0 percent in 2015. Japan is and 12.4 percent actual growth in FY 15.
projected to grow by 0.5 percent in 2016 as in Export grew by 8.9 percent, while import by
2015 and is expected to grow by 0.6 percent in 5.5 percent in FY 16. Remittances, however,
2017.Chinese growth is revised downward to ended up with a negative growth of 3.0
6.6 percent in 2016 and 6.2 percent in 2017 percent during the same period. Foreign
from 6.9 percent in 2015.India’s economic exchange reserves reached USD 30.2 billion
growth in 2016 and 2017 is expected to at the end of FY16, around 8 months of
continue at 7.6 percent. prospective import. Average inflation in

Bangladesh has declined gradually over the Uttara Bank Limited
last couple of years.
Uttara Bank Limited is one of the front
The near and medium term outlook for ranking first generation private sector
Bangladesh economy looks positive, commercial banks in Bangladesh. The Bank
supported by higher domestic and foreign has been carrying out business through its 229
investments, buoyant trade, capital inflows branches spreading all over the country. The
and favourable inflationary environment. Management of the Bank consists of a team
led by senior bankers with vast experience in
Banking Industry Outlook-2017 national and international markets.
The government’s prudent fiscal policy, Performance of Uttara Bank Limited

accompanied by the Bangladesh Bank’s
monetary policy and effective supervision are Uttara Bank has successfully achieved
expected to support macro-financial stability. improved operational results showing an
Aided by pragmatic policy support from the impressive upward trend. Bank’s operation
Bangladesh Government and Bangladesh has achieved the confidence of its customers
Bank, the low and stable inflation with sound fundamentals in respect of deposit
accompanied by a macroeconomic accumulation, loans & advances, import &
environment helped Bangladesh become a export, remittance and profit earning. As a
role model of sustainable finance. In this result the bank has been abled to earn a steady
regard, banks and financial institutions are after tax profit growth.
playing a significant role by providing credit
to the un-banked, un-served and underserved Financial result of the Bank
people, particularly women supported by the To uphold the continuous growth, the
low cost refinance windows of Bangladesh management of Uttara Bank Limited is always
Bank for Micro, Small and Medium striking optimum balance between liquidity
Enterprises (MSMEs) output initiatives and and profitability. The Management
eco-friendly green projects. These policies emphasizes on the growth of quality of assets
would make finance and growth more in addition to the quantity. Our financial
sustainable. Looking ahead, in FY17 domestic highlights are growing year to year mainly
credit is projected to grow by 16.4 percent(y- due to operational efficiency and an increasing
o-y) with private sector credit growing by 16.5 customer base. The financial results of the
percent and credit to the public sector by 15.9 Bank are as under:
percent. In FY17 imports are projected to
grow by 8.5 percent, exports by 8.5 percent
and remittances by 10.0 percent. The foreign ASSETS
exchange reserves are projected to reach USD As of 31 December 2016 total asset of the Bank
33.0 billion or higher in FY17 from USD 30.2 stood at Tk. 162,417.7 million with an increase
billion in FY16. From a macro prospective, of 7.22 percent as against 2015. The increase in
domestic demand growth is expected to Asset was mainly driven by significant growth
remain robust over the near and medium-term of customers’ deposits which were used for
reflecting demographics, investments and funding in loans & advances and holding of
improving infrastructure and cost of doing securities. The increase in asset is determined by
business. loans and advances.

Head wise position of Bank’s Invested
Cash Fund at the end of the year 2016 is given
Cash in hand stood at Tk. 2,527.8 million in below:
2016 as against Tk. 2,563.6 million of the Heads of Investment (Taka
million)
previous year.
Treasury Bills and Bonds 29,197.6
Share and Debenture of
Balances with Bangladesh Bank and its ICB sponsored companies 6.6
agents Prize Bond 8.8
Subordinated bond 1,380.0
During the year 2016, Balances with Commercial Paper 700.0
Bangladesh Bank and its agents increased by Eastern Bank Limited 104.0
ICB 199.4
3.53 percent amounted to Tk. 10,241.3 Karmasangsthan Bank 10.0
million. CDBL 1.6
Others 6.3
Total 31,614.3
Balances with other Banks/ Financial
Institutions Loans and Advances
During the year 2016 balances maintained The Bank continued its participation in
with other banks and financial institutions different credit programmes for financing new
stood at Tk. 23,268.7 million as against Tk. industrial projects, working capital, trade
8,444.7 million of the previous year. finances, international trade etc. The Bank
continued to consolidate and diversify its
portfolio in 2016 to have a diversified client
Investment base and portfolio distribution across the
The Bank always gives emphasis on sectors to reduce client specific concentration
and industry specific concentration and to
investment of Funds in high yield areas
reduce overall portfolio risk. In 2016 Uttara
simultaneously maintaining Statutory Bank Limited registered a steady growth in
Liquidity Requirement (SLR) as fixed by the credit portfolio posting a growth of 9.90
Bangladesh Bank. Uttara Bank Limited is a percent. Total loans and advances of the Bank
primary dealer of Government securities. The stood at Tk. 83,311.1 million during the year
Bank as a primary dealer is to purchase the 2016 as compared to Tk. 75,806.9 million of
the previous year. Average loan per Branch
Bond/Bill which is put to auction in order to
stood at Tk. 363.8 million. Sector wise
keep underwriting commitment. Besides, one allocation of advances revealed a well-
of the investment activities of the bank is to diversified portfolio of the Bank with
maintain Statutory Liquidity Reserve (SLR) balanced exposure in different sectors.
which mainly comprises Government
Agriculture Loan
Treasury Bill and Treasury bond of different
tenure, Prize Bonds, Government approved The overall economic development of our
Debenture and ICB shares. The Bank invested country depends on Agricultural growth. With a
view to augmenting agricultural output, creating
total Tk. 31,614.3 million in 2016 as
employment opportunities and generating
compared to Tk. 41,336.6 million of the income of the rural people, Uttara Bank Limited
previous year. intensified its efforts to extend credit facilities to

all sections of rural population under various Personal Loan
rural credit schemes, programmes and projects
Personal loan scheme has been introduced to
pertaining to agricultural and of farming extend credit facilities to cater the needs of
activities. At present the Bank is disbursing agri low and middle income group for any
Loan to the farmers directly through all its
purpose. The outstanding balance of the same
branches with simple terms and conditions. The stood at Tk. 1.5 million at the end of the year
persons interested in agricultural work, 2016.
including men and women, landless/ marginal
farmers and shared croppers are eligible for
receiving agri loan from the Bank. The agri Consumer Credit Schemes (CCS)
credit sectors of the Banks are crops, irrigation, The outstanding balance of consumer credit
equipments, agricultural machineries, livestock, scheme under two special projects namely
fisheries (including shrimp) and poverty “Uttaran Consumer Loan Scheme” and
alleviation etc. The outstanding balance in this “Uttaran House Repairing and Renovation
sector stood at Tk. 2,090.8 million at the end of Scheme” stood at Tk. 206.2 million and Tk.
the year 2016 as against Tk. 1,796.2 million of 3,107.8 million respectively at the end of the
the previous year. year 2016. It may be mentioned here that the
recovery rate in these schemes is satisfactory.
SME Financing
SMEs are important to almost all economies Poverty Alleviation Sector Financing
of the world, but especially to those in Bank continued to extend commercial loan to
developing countries like Bangladesh. the enthusiastic youths and small
Financing in SME sector is a good entrepreneurs for various sectors through its
opportunity to diversify the portfolio risks. different branches on priority basis during the
Small & Medium Enterprise (SME) remains year. For this purpose the Bank disburses loan
the engine of growth in the emerging in dairy and poultry to obliterate the poverty
economy. Uttara Bank Limited has been and to create employment opportunities for
putting its emphasis on Small and Medium the destitute. The outstanding balance in this
Enterprise Financing in line with the sector stood at Tk. 152.9 million at the end of
Prudential Regulations/Guidelines of the year 2016.
Bangladesh Bank. The Bank’s strategy is to
provide working capital and term loan to Financing in Women Empowerment
different small and medium scale Development Scheme
manufacturers, traders and service providers
those fall under SME sector. Uttara Bank believes that empowerment of
women can be truly achieved if they get
The Bank disbursed Tk. 26,382.8 million in opportunity to attain their economic
SME sector during the year 2016 out of which emancipation. Women Empowerment
small enterprise Tk.10,903.9 million and Development Scheme has been introduced in
medium enterprise Tk. 15,478.9 million. The the Bank named “Nari Shanirvar Rin Prokalpa”
outstanding balance of the same as on to encourage women in doing business in
31.12.2016 stood at Tk. 49,071.4 million. As a Small & Cottage industry and others. The
vision to diversify the credit portfolio as well outstanding balance in this sector stood at Tk
as to minimize credit risk, the bank is now 84.4 million at the end of the year 2016.
focusing more on SME sector.

Syndicated Finance Major sectors where the Bank has extended its
business are mainly Imports and Exports,
Syndicated loans allow arranging funds for
large projects spreading the risk amongst the Commercial Enterprises, Steel Re-rolling
partners Banks. Clients also enjoy the benefits Mills, Readymade Garments, Textiles, Edible
oil and Cement Factories etc.
of having access to larger pool of funds from
multiple financial institutions but have to deal
with one Agent Bank and one set of Bad Loan Management
documentation. The outstanding balance of Credit Monitoring is a continuous process to
the same at the end of the year 2016 stood at maintain and upgrade the health of assets of
Tk.125.0 million. The Bank worked as a the Bank. The Bank continued its efforts to
participating financial institution in maintain high quality assets. Besides giving
syndication finance. emphasis on the satisfactory business
performances of the customers and collateral
Corporate Finance support, the Bank geared up loan monitoring
and follow up systems through Monitoring
Uttara Bank Limited always adopt strategy for
Department to check the loans from becoming
widespread service for the large and medium
sized corporate customers and Bank’s business non-performing. The non-performing loans of
is focused to a considerable extent on the the Bank stood at Tk. 6,458.0 million at the
corporate clients by maintaining a relationship end of 2016 compared to Tk. 6,272.6 million
and extending financial assistance based on a in 2015.
deep understanding of the clients’ business
environments, financial needs and internal LIABILITIES
strategies for growth. The Bank extends its Total liabilities of the Bank stood at Tk.
financial support to the corporate clients either 149,066.9 million on 31 December 2016
from own finance or by arranging registering a growth of 7.77 percent over the
syndicated/club finance. The investment in last year. This was mainly due to increase in
corporate sector is the combination of a mixed customers’ deposits.
and balanced allocation in various natures of
business/industries based on the socio-
Borrowings from other Banks, Financial
economic perspectives and long term planning.
Institutions and Agents
Lease Finance The function of the Treasury Division is
borrowing fund from and lending fund to
This scheme has been designed to assist and
money market. Borrowing from other Banks,
encourage the genuine and capable
financial institutions and agents including
entrepreneurs and professional for acquiring
overnight borrowing stood at Tk 988.4 million
capital machineries, medical equipments,
computers, vehicles and other items. As part at the end of 2016 compared to Tk. 1,389.3
of its diversification of credit products Uttara million at the end of 2015. The Bank’s
Bank Limited introduced Lease financing borrowing includes borrowing against
Scheme. The Bank continues to disburse loan refinance from Bangladesh Bank for financing
under this Scheme and the outstanding under SME scheme and financing against
balance stood at Tk. 208.9 million on 31 SME (women entrepreneurs).
December 2016.

Deposit
Deposit is the principal source of fund
invested to generate revenue in banking
business. The Bank’s deposit stood at Tk.
134,951.6 million as on 31 December, 2016
compared to Tk. 122,407.6 million in 2015,
thus recording 10.25 percent growth.
Competitive interest rates, attractive deposit
products, deposit mobilization efforts of the
Bank and confidence reposed by the
customers in the Bank contributed to the
notable growth in deposits.
Other Liabilities
During the year 2016, other liabilities of the
Bank stood at Tk. 13,126.8 million as against
Tk. 14,523.1 million for the previous year.
INCOME
Interest Income
During the year 2016 interest income of the
Bank was Tk. 9,307.7 million as against Tk.
9,380.9 million of the previous year. The
interest income of the Bank was decreased
due to reduction of interest rate on loans &
advances and investment of the Bank.
Interest Expenses
Share Capital Interest expenses moved down from Tk.
The Authorized Capital of the Bank was Tk. 6,493.0 million in 2015 to Tk. 5,849.6 million
6,000.0 million as on 31.12 2016. The paid in 2016 posting a decrease of 9.91 percent.
up capital of the Bank has stood at Tk. The interest expenses of the Bank were
4,000.8 million. The total equity of decreased due to low cost of Deposits.
shareholders of the Bank at the end of the
year 2016 stood at Tk. 13,350.8 million and Net Interest Income
in 2015 at Tk. 13,156.2 million.
The net interest income of the Bank for the
Statutory and Other Reserve year under review stood at Tk. 3,458.1 million
as against Tk. 2,887.9 million for the previous
The Statutory and Other Reserve increased to
year thereby making a positive growth of
Tk. 9350.0 million during the year by
registering 2.13 percent increase over last year 19.74 percent over the year 2015.
Tk. 9,155.4 million.

Investment Income
The Bank’s investment income during the
year 2016 was mostly in long term Govt.
Securities which stood at Tk. 4,077.1 million
as against Tk. 4,679.9 million in 2015. The
Government Treasury Bonds have been
purchased to keep the underwriting
commitment as primary dealer and cover the
increased SLR arising from the growth of
Deposit liabilities.
Commission, Exchange & Brokerage

In the year under review, commission,
Operational Success and Appropriation of
exchange and Brokerage earnings was
Profit
Tk.772.3 million which was Tk. 740.2 million
in 2015 which shows an increment of 4.34 The operating profit of the Bank during the
percent year 2016 was Tk. 2,502.8 million as against
Tk. 3,976.7 million in 2015. The Bank was
able to earn gross income of Tk. 14,724.3
Operating Expenses million during the year 2016 whereas the
In the year 2016, total operating expenses gross expenses were Tk. 12,221.5 million.
stood at Tk. 6,371.9 million as against Tk.
4,862.6 million of the previous year. This The financial results and recommended
happened due to introduction of a new pay appropriation of profit for the year 2016
structure for the employees of the Bank are given below:
effective from January 2016. (Amount in Taka)
Particulars 2016 2015
Net profit after tax 1,530,747,417 1,502,882,669
Net Profit before Tax
Add: Retained earnings brought 63,564,235 60,842,240
Net profit of the Bank before tax stood at Tk. forward from previous years
2,022.8 million as against Tk. 2,520.6 million Profit available for 1,594,311,652 1,563,724,909
appropriation
of the previous year. Appropriations recommended by the Board of Directors:
Transfer to Statutory Reserve - 300,000,000
Net Profit after Tax Transfer to General Reserve 750,000,000 400,000,000

Proposed Dividend:
Net profit of the Bank after tax stood at Tk.
Cash dividend @20.00% 800,160,674 800,160,674
1,530.7 million in 2016 as against Tk. 1,502.9
Retained earning carried 44,150,978 63,564,235
million of the previous year, thus records a forward
growth of 1.85 percent.

Provision for loans & advances: Ratio (SLR) is one of the major functions of
Treasury Division. Treasury Division operates
For making required provision amounting to with a view to activate the functions of
Tk. 1,926.8 million against classified and
Treasury Bills and Bonds, Commercial
unclassified advances as per revised directives
Securities, Purchase and Sale of the same in
of Bangladesh Bank by December 2016, the
Bank made provision for Tk. 1,990.6 million the secondary market. During the year under
during the year under report. At present there discussion the Bank’s treasury function
is no shortfall in required provision against continued to concentrate on local money
classified and unclassified loans and advances market operations, which included primarily
and Off Balance Sheet Exposures. term investment of surplus funds and inter-
bank lending and borrowing at call. Besides,
Provision for Tax Money Market Department of the Bank’s
Provision for tax for the year was Tk. 492.1 Treasury is working efficiently with products
million compared to Tk. 1,017.7 million of of Repo & Reverse Repo. Foreign Exchange
previous year. According to Bangladesh Money Market and Primary Dealer
Accounting Standard (BAS) 12, Current Tax encountered multidimensional challenges and
of the Bank has been calculated. new regulations were introduced with various
associated risks during this year. In spite of
Adoption of IAS and IFRS that Bank has also managed fund requirement
Institute of Chartered Accountants of in local currency efficiently. Treasury
Bangladesh (ICAB) adopted the International operations of the Bank are operated in the
Accounting Standards (IAS) and International light of the Core Risk Management guidelines
Financial Reporting Standards (IFRS). issued by the Bangladesh Bank.
Bangladesh Securities and Exchange
Commission (BSEC) and Bangladesh Bank Capital Adequacy
also mandated the implementation of IAS and Capital adequacy focuses on the total position of
IFRS. These standards and reporting system capital held against the requirement as per
have also been complied by our Bank in policy of Bangladesh Bank and aims at
preparation of the Financial Statements. protecting the depositors from potential shocks
of losses that a Bank might incur. At the end of
Dividend
the year 2016, the total Regulatory Capital of
The Board of Directors recommended 20% the Bank stood at Tk. 12,481.9 million against
cash dividend for the year 2016 subject to the Minimum Capital Requirement (MCR with
approval of the shareholders in the 34th conservation buffer @ 10.625%) of Tk. 9,908.8
Annual General Meeting. million on the basis of tier-1 and tier-2 showing
Treasury Operations surplus capital of Tk. 2,573.1 million. Risk
weighted assets decreased by Tk. 2,336.1
In keeping with international standard and the million and stood at Tk. 93,259.4 million in
Central Bank Guidelines for Core Risk 2016 inspite of increasing loans and advances of
Management Policy, the Bank has restructured the Bank. The capital adequacy rate of the Bank
its treasury into three segments (1) Treasury stood at 13.38 percent against Minimum capital
Front Office (2) Treasury Mid Office (3) requirement with conservation buffer @ 10.625
Treasury Back Office. Proper utilization of percent as fixed by Bangladesh Bank, which is
surplus fund through maintenance of Cash indicating a sound Capital base of` the Bank.
Reserve Ratio (CRR) and Statutory Liquidity

Implementation of BASEL-III Segment Reporting
The purpose of Basel-III is to create an Following table also summarizes both the
international standard that Banking regulators stand alone performance of the Bank and its
two subsidiaries.
can use when creating regulations about how
(Figure in Tk.)
much capital banks need to put aside to guard UB Uttara
against the types of financial and operational Particulars
Uttara Capital & Bank
risks banks face. The establishment of the risk Bank Ltd. Investment Securities
Ltd. Ltd.
based capital adequacy as per Basel-III
Total Operating Income 8,874,710,917 6,979,488 27,509,946
framework has put the total Banking system in
Total Operating Expenses (6,371,867,637) (1,821,722) (9,909,380)
a challenging position in these days. In view
Profit before Provisions 2,502,843,280 5,157,766 17,600,566
of Basel-III recommendation, the revised
policy of Bangladesh Bank on capital Total Provisions (480,000,000) - (3,761,053)
adequacy takes into account of different Profit before Tax (PBT) 2,022,843,280 5,157,766 13,839,513
degrees of credit risk and covers both on Provision for Taxation (492,095,863) (1,934,162) (4,096,518)
balance and off balance sheet transactions. To Profit after Tax (PAT) 1,530,747,417 3,223,604 9,742,995
give comparative effect to this purpose,
capitals are categorized into two tiers: Tier-1 International Trade Operation
defined as core capital comprising the quality
The international trade financing is one of the
capital elements and Tier-2 defined as major business activities conducted by the
supplementary capital represents other Bank. The foreign trade related activities of
elements which fall short of some of the the Bank carried out through 39 Authorized
characteristics of the core capital but Dealer branches across the country, have
supplement the over all strength of the Bank. earned confidence of importers and exporters.
(Details in page no. 205) The Bank’s 39 Authorized Dealer branches
are well equipped with highly trained
Credit Rating of the Bank professionals to handle varied needs of import
and export based clients.
Surveillance rating of Uttara Bank Limited was
rated as on 23 June 2016 on the information of Import Business
31 December 2015 by the Credit Rating
During the year performance of import
Agency of Bangladesh Limited (CRAB) which
business of the Bank was satisfactory. In 2016
is a local rating company. The Bank has import business stood at Tk. 39,962.4 million
achieved AA3 (Very Strong Capacity &Very as compared to the volume of Tk. 38,738.0
High Quality) in long term and ST-2 (High million in 2015 which is increased at 3.16%.
Grade) in short term. The above surveillance
rating has been done in consideration of Bank’s Export Business
visible improvement in fundamentals such as
Export business handled by the Bank during
assets quality, capital adequacy, liquidity the year 2016 amounted to Tk. 10,327.6
position, profitability and limited market share. million as against Tk. 12,224.4 million of the
(Details in page no. 225) preceding year.

Foreign Remittance Besides, they can purchase Five Years Wage
Earners Development Bond (WEDB), US
The Bank has been active in remittance
operations to facilitate disbursement of Dollar Investment Bond and US Dollar
remittances received from Bangladeshi wage Premium Bond with their foreign remittances.
earners working abroad. Inward Foreign
Remittance played a significant role in Foreign Correspondents and Exchange
reducing the Bank's dependence on inter-bank Houses
market for payment of import bills in foreign The Bank has continued efforts and endeavors
currency. This Bank has drawing arrangement to develop relationship with foreign
with 68 Banks and Exchange Companies of correspondents worldwide to facilitate the
the different important countries of the world. international trade services. Correspondent
The volume of foreign remittance in the year Banks are the trade partners of the bank in
2016 stood at Tk. 37,051.7 million as international trade. The bank has already
compared to Tk. 47,552.3 million of 2015. achieved tremendous success in foreign trade.
Besides, expatriates can remit their money to In order to encourage wage earners for
home country instantly at low cost, through its remitting funds through banking channels and
604 or more correspondents worldwide under ensure smooth facilities for the remittance to
SWIFT system. send money from any corner of the world, the
bank is constantly trying to make
arrangements with reputed exchange houses
all over the world. As a consequence of
effective expansion of strong correspondent
network and enlistment of the bank as a
member of SWIFT, the inter-bank remittance
has increased and as a result the bank is able
to remit the fund to the customers quickly.
The total number of correspondents and
agents of the bank in our country and abroad
was 604 as on 31.12.2016. At the same time
the bank maintained drawing arrangements
against wage earners’ foreign remittance with
68 exchange houses worldwide. Among these
68 exchange houses, the bank has
arrangements with well regarded exchange
Foreign Currency Deposit Account houses like Money Gram, Western Union,
Xpress Money, Placid Express, IME, National
With a view to delivering the hard-earned Exchange, Ria Finance Services, Trans-Fast,
foreign remittances sent by Bangladeshi Sigue Global Services etc. With the best effort
expatriates to the payees at home and enabling to provide our customers the best services in
them to utilize the same in their chosen the quickest possible time, the bank has
sectors, Uttara Bank Limited has in operation recently launched a web portal in the name of
a number of modalities such as, Foreign “Remittance Management Software” through
Currency (FC) Account in US Dollar, Euro which all the wage earners’ foreign remittance
and Pound, Non Resident Foreign Currency can be processed and managed quickly and
Deposit (NFCD) Account and Resident easily with the support of the bank’s 229
Foreign Currency Deposit (RFCD) Account. online branches throughout the country.

Products and Services * Prevention of Money laundering.
* Internal Control and Compliance.
The Bank has continued to improve its
activities untiringly in the delivery of products * Information and Communication
and services. Our first step in building Technology (ICT) Risk
superior customer responsiveness is through
motivating the whole company to focus on the Effective risk management is indispensable
customers. The Bank has launched a number for smooth commercial operation in all
spheres of business. So Uttara Bank Ltd. has
of financial products and services since its
inception. Among these Monthly Deposit implemented the following risk management
Scheme, Double Benefit Deposit Scheme, system prepared in line with guidelines of
Bangladesh Bank to prevent relevant risks.
Mashik Munafa Prokalpa, Uttaran Bibaha
Sanchay Prokolpa, Uttaran Swapnopuran
Sanchay Prokolpa, Uttaran Shikkhaya Credit Risk Management
Sanchay Prokolpa, School Banking Deposit, Credit risk is the risk of loss arising from the
FDR, SND etc. are for deposit mobilization in failure of a borrower, issuer, counterparty or
one hand and consumer credit scheme, lease customer to meet its financial obligations to the
finance, personal loan, Uttaran house Bank. The Bank is exposed to credit risk both
repairing and renovation scheme, SME through direct exposures and through
financing, Agri loan etc. are in another hand. contingent exposures. Our endeavor in
Besides, the Bank has also some electro- identifying, measuring, monitoring and
banking products based on information controlling credit risk for each borrower and
technology of which Q-cash UBL ATM Debit also at the portfolio level are working as the
cards are worth mentioning for providing 24 guiding principles of credit risk management.
hours services to customers. Uttara Bank Limited always acknowledges
effective Risk Management as the key to
Risk Management steady and stable growth for the Bank. The
Risk Management is a dynamic process Bank's own lending policy has been introduced
in the Bank in line with the directives received
interrelated with the philosophy, culture and
functionalities of the Bank. By nature, risks from the Bangladesh Bank and the
are extremely unpredictable. This makes it Government. The Branches are the business
unit of the banking system. The loan
urgent for the Bank to evolve its risk
management strategy in a way that best application assessment process starts at branch
protects our interests against any insidious level by the Relationship Managers (RM)
through Zonal Office and ends at Credit Risk
transactions. The management of Uttara Bank
Ltd. is fully cognizant to the importance of Management approval Unit.The CRM Unit
various risks involved in the banking business. analyses the proposal from different
perspectives in line with lending policy of the
Risk Management is one of the critical factors
in banking. Bangladesh Bank has identified 06 Bank. If the proposal is found business worthy
(six) core risks Management of Banks and has the CRM Unit places it to the Credit
Committee with its recommendations.
provided necessary guidelines for prevention
Mentionable that Credit approval authority has
there from. The six core risks are:
been delegated to the individual executives.
* Credit Risk Management. Proposal beyond their delegation is submitted
to the top management, the Executive
* Asset Liability Management.
* Foreign Exchange Risk Management. Committee and the Board of Directors.

Asset Liability Management determine foreign exchange rate & tries to
reduce the associated risk while the Back
Asset Liability Management (ALM) is an
integral part of Bank Management that office settles all foreign exchange transactions
manages the Bank's on and off-Balance sheet and reconciliation. As a result treasury
activities of the Bank are being operated
position to offer competitively priced products
and services to customers. The Asset-Liability smoothly and efficiently.
Management Committee (ALCO) holds
meetings regularly to discuss both the Prevention of Money Laundering
opportunities and threats to the Bank’s Money Laundering means any offence under
Balance Sheet & Liquidity. As per the law of the Prevention of Money
Bangladesh Bank guidelines the Bank formed Laundering Act 2012. Money Laundering is
Asset Liability Committee with combination now one of the greater challenges that the
of following members: governments, banks and financial institutions
face in the globalized financial system. In
Managing Director & CEO response to the growing concern about money
Additional Managing Director laundering and terrorist activities, the
Deputy Managing Directors international community has acted on many
Chief Financial Officer fronts. In order to prevent and control illegal
Head of Treasury hundi, unauthorized transfer of money abroad
Head of International Division and money laundering, the Bank has taken
Head of Banking Control and Common various steps. The Bank continued its anti
Services Division money laundering campaign through training
Head of Risk Management Department programme. The regulatory requirements are
In charge of Asset Liability Department complied with and the KYC (Know Your
Customers) and TP (Transaction Profile) are
ALCO members sit at least once in a month to followed for opening new accounts for
review mainly the aspects of economic and prevention of Money Laundering. Manual for
money market status risks as a whole, prevention of Money Laundering has been
liquidity risks related with Balance Sheet, established as per Bangladesh Bank guidelines
transfer pricing risk, risks related to interest and the Bank has taken all types of steps to
rate on deposits and advances and various prevent acts of money laundering.
important aspects including monetary policy
of Bangladesh Bank. Internal Control and Compliance
The audit Committee of the Board of Directors
Foreign Exchange Risk Management supervises the internal control, audit and
Foreign Exchange Risk arises from the compliance functions. Framework of the Bank
variation in rates of exchange that prevail at is designed to manage the Bank’s risks within
domestic and international markets. The an acceptable risk profile to implement the
introduction of market based exchange rate of policies and achieve the goals and objective of
Taka has resulted in both trading opportunities the Bank. The Bank has taken various steps for
and associated Foreign Exchange volatility ensuring internal control and compliance as per
risk. Foreign Exchange risks are the potential directives and guidelines of Bangladesh Bank
change in earning arising due to change in for managing core risks in banking with a view
foreign currency prices. The front office of the to conducting banking business more
Bank’s Treasury Division continues to effectively and efficiently. The Management

through Internal Control and Compliance Information Technology
Division undertakes periodical and special
Banking operations of the branches have been
audit of the branches and departments at Head computerized to minimize costs and risks and
Office for review of the operation. to optimize benefits and increase overall
efficiency for improved services. The
ICT Security Risk Branches have ability to prepare the financial
Information Technology has brought statements at the end of the day. Bank has a
momentous transformation in the Banking guideline named “ICT Security Policy of
industry. Moreover, Information and Uttara Bank Limited” as per Bangladesh Bank
Communication Technology System are BRPD circular no. 09 dated: 17.09.2015.
essential assets of the bank as well as
customers and stakeholders. The use of ICT Computer Lab
in Uttara Bank Limited is increasing Information and Communication Technology
extensively. Considering the increased use of has become an inevitable part of today’s
ICT it became necessary to be more careful modern banking business and transactions. In
to address the Risk associated to ICT order to increase the efficiency in ICT of our
Security. Bank has formulated well-defined employees, the Bank has launched a Computer
ICT Policy in line with the international best Lab with sufficient number of computers at our
practices and prudential guidelines of own Training Institute at 145, Shantinagar
Bangladesh Bank on ICT Security. (Eastern Plus Building), Dhaka. Information
and Communication Technology Division of
Customer Services the Bank organized various computer training
Customers are the first priority to the Bank programmes during the year.
and the company philosophy is to satisfy the
clients who act as ambassadors of the Bank Online Banking
for image building. Our prime focus is to IT based Banking has a major role to play in
give total solution to customer problems. The rendering improved services to the valued
Bank is providing different customized customers and stakeholders in today’s
services for our valued customers. Customers competitive Banking environment. The Bank
are our first priority and the main has taken various measures for automation of
contributing agent to our success. its functions and services. For providing better
and faster services and to coup up with fast
Brand Image growing customer base, Bank acquired a Core
Banking Solution (CBS) Software in 2012
Our customers come from all walks of life. The named “Bank Ultimus” and in 2013 all
Bank’s policy is to make all employees more branches have been brought under online
proactive to the clients irrespective of their Banking facilities and thus better and prompt
socio-economic background. The employees service is being rendered to the customers of
are self-motivated and committed to uphold the Bank without any intervention.
the slogans “Nourished by the age old heritage
of Bengal”. Our prime objective is to uphold
BEFTN
the slogan in all activities of the Bank. This
creates extra image of our Bank among the Electronic payments systems are the most
stakeholders at all levels. sophisticated and advanced part of the modern
payment system. Uttara Bank has successfully

established electronic fund transfer network to Azimpur, Dar-us-Salam Road and Badda,
transfer foreign and local remittance National Heart Foundation Hospital, South
successfully connected to Bangladesh Banasree, Taltola Khilgaon, Uttara in Dhaka,
Electronic Fund Transfer Network (BEFTN) Agrabad, KAFCO in Chittagong, Ambarkhana,
which will facilitate online payment Zinda Bazar in Sylhet, Rail Road in Jessore,
settlement with other participating banks.
KDA in Khulna, Meherpur Sadar, Meherpur,
Rajshahi Station Road in Rajshahi, Bhagalpur
E-mail & Internet
in Kishoregonj, Mymensingh, Barisal, Bogra,
Above all in order to ensure speedy services Bot Toli Bazar in Joypurhat, Chasara in
in International business E-mail and Internet Narayangonj owned by the Bank. However, the
services are in operation at Head office and Bank has a plan to expand the number of ATM
all branches.
booths and related products & services.
SWIFT
Website
At present International Division of Head
Office and 39 Authorised Dealer branches are www.uttarabank-bd.com is the Bank’s web
under SWIFT operation. As a result the bank site address. It is kept updated and maintained
has been able to conduct international trade by the Information & Communication
and transmit letter of credit, fund and message Technology Division under Head Office.
instantly throughout the world at low cost.
Reconciliation of Accounts
REUTERS Software is being used to reconcile inter
The Bank continues maintenance of the latest branch transactions under Core Banking
financial service products REUTERS- Solution (CBS) quickly and accurately.
3000Xtra and REUTERS Dealing System
(RDS) for collecting accurate information of Corporate Governance
rapid changing position of international One of the basic policies of the Bank is to
money market with Bank’s own independent strengthen its corporate governance status by
Dealing Room. As a result the Bank has been establishing responsible management system
able to render Treasury service up to the and strengthening supervision. Corporate
international standard through its Treasury governance is the system by which business
Division which is equipped with most modern companies are directed and controlled. Since
technology and expertise manpower. its inception, Uttara Bank has actively and
fully adhered to the principles of sound
ATM Services corporate governance. Fairness, Transparency,
Uttara Bank Ltd. offers ATM Card facility in Accountability and Responsibility are the
the name of Q- Cash, UBL- ATM Debit Card. minimum standard of acceptable corporate
Any card holder has 24 hour access to cash behavior today. Uttara Bank Limited
withdrawal facilities. Such facilities are continues to ensure the compliance of
available with almost all Q-cash ATM booths Corporate Governance as per Securities and
and all ATM booths of BRAC Bank Ltd., Exchange Commission rules and regulations.
Dutch Bangla Bank Ltd. and other Banks Corporate Governance establishes specific
responsibility to ensure accountability.
around the country. There are 23 (Twenty
(Details in page No. 83)
three) ATM booths in Motijheel, Shantinagar,

Corporate Social Responsibility Modernization and Development of the
Uttara Bank Limited manages its business in a Branches
responsible way and contributes to the society Uttara Bank Limited has one of the most wide
and environment in which it operates. spread distribution networks amongst private
Corporate Social Responsibility (CSR) is the Banks in the country. At present the bank is
continuing commitment by business to behave operating its all types of business activities
ethically and contribute to economic through 229 branches in prime location of the
development. It also improves the quality of country. In accordance with the demand of the
life of the workforce and their families as well time and business the shifting of branches of
as of the local community and society at large. the bank to the newly decorated premises in
Uttara Bank Limited considers socially more important and commercially potential
responsible activities as an important part of places, renovation and decoration of old
its culture, identity and business practice. We branches with modern amenities are also
have a deep commitment, loyalty and a high being continued.
sense of responsibility to our nation and its In order to increase its business the Bank has
people. Uttara Bank Ltd. conforms to all of opened 2 (two) branches in 2016. The 2 (two)
the stringent regulations issued by the Branches are Panchagarh Branch, Panchagarh
Government and Bangladesh Bank. As part of and Sarojgonj Branch, Chuadanga.
our corporate social responsibility, Bank
contributes greatly to the nourishment of the Vehicles
country’s all calamities, arts, culture and
sports. During the year 2016 Bank donated The total number of the vehicles of the Bank
28.4 million in different CSR activities. in the year 2016 was 119. The vehicles are
(Details in page No.200) generally used for carrying cash from feeding
branches to other branches and for providing
Green Banking transport facility to the executives. The total
expenditure for vehicle in the year 2016 was
Green banking is a part of global initiative to Tk. 56.2 million as against Tk. 61.6 million in
save the environment from environmental the year 2015.
hazards. Our Corporate Social Responsibility
contributes generously to the development of Bank’s Own Premises
Green Banking. As a prudential and time
befitting initiative Bank has incorporated a A magnificent 18 Storied Bank’s own
number of green banking projects in its building namely Uttara Bank Bhaban located
business operation which are highly beneficial at the hub of Motijheel Commercial Area
for the environment and the health of the within the Metropolitan City of Dhaka
society as well. The policies with regard to signifies the concrete symbol of tradition and
environmental management are being stability of the Bank. Different Departments
observed in our lending practices. We are of Head Office and Corporate Branch have
always against financing the trade and been functioning in the same building. Local
business having potentially harmful impacts Office, Eastern plaza Branch, Hotel Isha kha
on environment. Our lending policies are International Branch, Dar-us-Salam Road
supportive and nourishing to environment. Branch, Elephant Road Branch, Ramna
Bank has already invested near about Tk. Branch, Dhaka North Zonal Office,
705.9 million as green finance. (Details in Satmosjid Road Branch, Savar Branch,
page No. 88) Moulvibazar Branch, Training Institute of the
Bank at Eastern Plus (145 Shantinagar),

Dhaka, Eskaton Branch at Eastern Tower officers were sent to various Training
Building, Dhaka, Nabagram Branch in Institutions including Bangladesh Institute of
Manikgonj, Zonal Office and KDA Branch in Bank Management (BIBM) and abroad for
Khulna, Zonal Office and Ambarkhana higher training.
Branch in Sylhet, Shaheb Bazar Branch, During the year 2016 the training Institute of
Rajshahi, Zonal Office and Mymensingh the Bank arranged 31 different training
Branch in Mymensingh are also working in courses and 9 workshops for the officers and
Bank’s own Building. members of the staff of the Bank in which as
many as 1,229 and 871 officers and members
Bank’s own Auditorium of the staff of the Bank participated
Considering the necessity of a large space for respectively. At the same time 198 officers
training/workshop/conference, the management and members of the staff of the Bank attended
of Uttara Bank Limited has set up its training courses/ workshops/ seminars
auditorium having 300 seating capacity with conducted by BIBM and 50 officers received
modern facilities in Bank’s own premises at training from Bangladesh Bank and 71
145, Shantinagar (Eastern plus building), officers received from others. The training
Dhaka. Managers’ conferences, workshops, institute is focused to ensure a formal platform
trainings are arranged in this auditorium. where employees can exchange their ideas,
update their knowledge base and open up their
Human Resources Development eyes to the complexities of banking world.
Competent and high quality workforce is pre- Human Resources
condition for continuous growth and success
Human Resources are the real capital of our
of the Bank and to achieve the same we keep
Bank. We always give due recognition to the
improving the skill, knowledge and
contribution made by the officers and staff
productivity of the employees. The HR
members. We consider the human resources
strategy of the Bank is to ensure sustainable
as a tool for development. Human Resources
growth in business and to create confidence
are the key to our success. Uttara Bank is an
and value for our customers, Shareholders,
employer of equal opportunity irrespective of
Stakeholders, Employees and the Society by
gender quality. The total manpower of the
providing efficient manpower. Knowledge
bank as on 31 December 2016 is 3,667 out of
and skill development is a continuous process
which 3,029 are officers and 638 are the
and to keep our employees abreast of all the
supporting staffs. Efforts have been made to
latest developments in the banking sector, the
rationalize the use of manpower by improving
Bank continues to organize various training
their efficiency and productivity.
programmes and workshops.
The Bank’s own Training Institute is nicely The total manpower of the Bank in
decorated and equipped with the sophisticated different grades as on 31.12.2016 was as
instruments has been striving to bring about a under:
qualitative change and improvement in human Designation Number %
resources of the Bank by imparting continuous
(a) Executives(Asstt. General
different training throughout the year. Guest Manager & above) 182 5.00%
speakers specialized in Banking participate in (b) Officers 2,410 66.00%
each training program of the Bank in addition (c) Asstt. Officers 437 12.00%
to the highly educated faculty members of the (d) Others 638 17.00%
institute. Besides, a number of executives and Total 3,667 100.00%

Audit Committee of the Board of Directors
In compliance with Bangladesh Bank & BSEC
Guidelines the Board has formed an Audit
Committee comprising 5 (five) members of the
Board to review various audit/inspection and
compliance activities at regular intervals. During
the year 2016 the Audit Committee held 08
(eight) meetings. In these meetings the Audit
Committee reviewed the inspection reports of
different branches of the Bank conducted by the
Bank's internal inspection teams from time to
time and examined the financial statements of
the Bank and expressed satisfaction that the
Audit and Inspection same has been prepared in accordance with
Audit & Inspection department conducts audit Bangladesh Accounting Standard and as per
and inspection of the branches both on regular instruction of Bangladesh Bank and other
controlling agencies. The Committee also
and surprise basis under specific guidelines.
exchanged views with the management and
During the year 2016 Bangladesh Bank Audit
external auditors on the issue.
& Inspection Team undertook Audit &
Inspection works in our 05 Authorized Dealer The Audit Committee of the Board takes
branches, 25 branches, special audit in 2 initiatives to keep the Bank safe from any
branches totaling 32 branches and Head possible untoward incident. The Committee
Office. During the same year Bank’s own also reviewed the financial statements of the
Internal Audit teams completed their Audit & subsidiary companies.
Inspection works of the 227 branches and also
at different departments of Head Office. The Meetings
Forex Audit Teams conducted their Audit
works in our 39 Authorized Dealer branches. The following meetings were held during
the year 2016:
Moreover ICT Audit on 127 branches and
Number of meetings
DCFCL Inspection on 39 High & Medium Particulars
2016 2015
Risk branches were also made during the year. Board of Directors 24 21
Besides, the Zonal Heads of the Bank Executive Committee 45 45
conducted their inspection of the branches Audit Committee 08 07
under their control on quarterly basis. Risk Management Committee 04 04
Appointment of Auditors Senior Management Team (SMT)

M/s. Rahman Mostafa Alam & Co. and M/s. Senior Management Team consists of Senior
Shafiq Basak & Co. Chartered Accountants Executives and Departmental heads of the Bank.
were appointed statutory auditors of the Bank The head of this committee is the Managing
jointly in the 33rd Annual General Meeting Director & CEO of the Bank. The team meets
and have audited the books of accounts for the every month and helps the Board of Directors to
period covering 1 January 2016 to 31 formulate polices/guidelines and implements the
same. During the year 2016, SMT organized 12
December 2016.
meetings.

Directors’ Honorarium
During the year an amount of Tk.3,944,000.00 has been paid to the Directors including
Independent Directors as honorarium for attending the meeting of Directors. It may be
mentioned here that each Director receives Tk.8,000.00 for attending each meeting as per BRPD
circular letter No. 11 dated 04.10.2015.

Board Meeting during the period from 1st January 2016 to 31st December 2016 and
attendance by each Director:
Sl. No. Name Total Meeting Held Attendance
1 Mr. Azharul Islam 24 23
2 Mr. Iftekharul Islam 24 12
3 Mr. Syed A. N. M. Wahed 24 23
4 Engr. Tofazzal Hossain 24 14
5 Mr. Arif Rahman 24 18
6 Mr. Abul Barq Alvi 24 21
7 Dr. Md. Nazmul Karim Chowdhury 24 23
8 Mr. M. Tajul Islam 24 24
9 Mr. Md. Kamal Akhtar 24 24
10 Dr. Md. Rezaul Karim Mazumder 24 23
11 Col. Engr. M. S. Kamal (Retd.) 24 22
12 Mr. Asif Rahman 24 07
13 Mr. Faruque Alamgir 24 20
14 Mr. Shaikh Abdul Aziz 24 04
15 Mohammed Rabiul Hossain 24 15

The pattern of shareholdings as on 31.12.2016
i). Parent/ Subsidiary/ Associated Companies and other related parties: Nil
ii). Shareholding of Directors:
Serial Name Position Total % of Shares
No. Shares as on
held 31.12.2016
1 Mr. Azharul Islam Chairman 20,529,721 5.131
2 Mr. Iftekharul Islam Vice Chairman 11,952,323 2.987
3 Mr. Syed A. N. M. Wahed Director 40,075 0.010
4 Engr. Tofazzal Hossain Director 40,075 0.010
5 Mr. Arif Rahman Director 8,004,150 2.001
6 Mr. Abul Barq Alvi Director 39,949 0.010
7 Dr. Md. Nazmul Karim Independent
Chowdhury Director - -
8 Mr. M. Tajul Islam Director 19,870 0.005
9 Mr. Md. Kamal Akhtar Independent - -
Director
10 Dr. Md. Rezaul Karim Mazumder Independent - -
Director
11 Col. Engr. M. S. Kamal (Retd.) Director 40,074 0.010
12 Mr. Asif Rahman Director 9,682,850 2.420
13 Mr. Faruque Alamgir Director 3,339 0.001
14 Mr. Shaikh Abdul Aziz Director 4,000 0.001
15 Mohammed Rabiul Hossain Managing
Director & CEO - -
iii). Shareholding of CEO, CFO, Company Secretary & Head of Internal Audit:
1 Chief Executive Officer and his spouse and minor children Nil
2 Company Secretary and his spouse and minor children Nil
3 Chief Financial Officer and his spouse and minor children Nil
4 Head of Internal Audit and his spouse and minor children Nil
iv). Shareholdings of Executives (Top five salaried persons other than CEO, CFO, CS and
HIA): Nil
v). Shareholders holding 10% or more voting interest in the company: Nil

Directors’ declaration as to Financial Conclusion
Statements The Board of Directors expresses gratitude to
The directors solemnly declare that: the almighty Allah for the success of the Bank
in 2016. The Board extends thanks to the
a) The Financial Statements prepared by the valued Clients, Shareholders and Patrons for
management present fairly its statement extending support and cooperation in the
of affairs, the result of its operations, cash activities of the Bank during the year 2016.
flows and changes in equity.
b) Proper books of accounts as required by The Board offers thanks to the Government of
law have been maintained. Bangladesh, Bangladesh Bank, Registrar of
c) Appropriate accounting policies have Joint Stock Companies and Firms, Bangladesh
been consistently applied in preparation Securities & Exchange Commission, Dhaka
of the financial statements and that the and Chittagong Stock Exchanges Ltd. for their
accounting estimates are based on co-operation and guidance to the Bank.
reasonable and prudent judgement.
The Board also expresses its appreciation to
d) Bangladesh Accounting Standards (BAS)/
M/s. Shafiq Basak & Co. and M/s. Rahman
Bangladesh Financial Reporting
Mostafa Alam & Co. Chartered Accountants,
Standards (BFRS) as applicable in
the Auditors of the Bank, for their efforts for
Bangladesh have been followed.
timely completion of Audit. The Directors
e) The system of internal control in the bank also wish to place on record their sincere
is sound in design and has been appreciation and thanks for the effort and
effectively implemented and monitored. dedicated services and cooperation extended
f) There are no doubts upon the banks by the employees towards overall improved
ability to continue as a going concern. performance of the Bank.
On behalf of the Board Directors
(Azharul Islam)
Chairman

FIVE YEARS AT A GLANCE
(Figure in Million– where applicable)
Sl.
No.
Particulars 2016 2015 2014 2013 2012
Income Statement
1 Gross Income 14,724.3 15,332.3 15,181.1 15,245.1 13,674.3
2 Gross Expenditure 12,221.5 11,355.6 11,368.3 12,109.7 10,412.9
3 Gross Profit 2,502.8 3,976.7 3,812.8 3,135.4 3,261.4
4 Pre Tax Profit 2,022.8 2,520.6 2,902.8 2,680.4 2,536.4
5 Post-Tax Profit 1,530.7 1,502.9 1,389.4 1,310.4 1,236.4
Balance Sheet
6 Authorized Capital 6,000.0 6,000.0 6,000.0 6,000.0 6,000.0
7 Paid-up-Capital 4,000.8 4,000.8 4,000.8 3,637.1 3,306.4
8 Reserve Fund and Other Reserves 9,350.0 9,155.4 8,179.1 7,042.3 6,490.5
9 Shareholders' Equity 13,350.8 13,156.2 12,179.9 10,679.4 9,796.9
10 Deposit 134,951.6 122,407.6 113,978.5 111,300.1 93,658.6
11 Advances (Gross) 83,311.9 75,806.9 74,198.9 64,829.8 61,328.6
12 Investment 31,614.3 41,336.6 42,787.9 45,749.5 41,998.2
13 Guarantee Business 3,014.1 3,098.9 2,394.2 2,566.9 1,878.6
14 Export Business 10,327.6 12,224.4 13,447.3 14,306.0 14,192.9
15 Import Business 39,962.4 38,738.0 45,870.9 40,336.8 35,418.6
16 Foreign Remittance 37,051.7 53,315.8 52,030.2 44,301.3 43,585.6
17 Fixed Assets 3,276.8 3,345.5 3,352.0 3,204.3 2,843.4
18 Total Assets 162,417.7 151,476.3 141,406.2 132,385.5 123,790.6
19 Classified Loans and Advances 6,458.0 6,272.6 5,875.7 5,209.5 5,161.9
20 Total Off Balance Sheet Exposures 21,243.1 22,494.5 25,358.2 18,775.9 12,005.3
BIS Capital Measures
21 Required Capital 9,908.8 10,157.0 9,616.7 8,195.2 7,518.7
22 Actual Capital 12,481.9 12,059.3 11,493.3 10,203.8 9,300.6
Credit Quality
23 Required Provision 1,926.8 1,680.4 1,530.8 1,357.7 1,740.9
24 Provision Maintained 1,990.6 1,782.2 1,542.0 1,419.5 1,803.5
25 Required Prov.against off Balance sheet exposures 212.4 224.9 253.6 187.8 120.0
26 Provision Maintained 212.5 225.0 254.0 188.0 120.1
Share Information
27 Earnings per Share (Face value Tk.10) 3.83 3.76 3.47 3.28 3.40
28 Market Value Per Share (Face value Tk.10) 24.70 22.70 25.90 31.10 38.10
29 Price Earning Ratio (Time) 6.45 6.04 7.46 9.48 11.21
30 Book Value Per Share (NAV) 33.37 32.88 30.44 29.36 29.63
Operating Performance Ratio
31 Advance-Deposit Ratio 0.62:1 0.62:1 0.65:1 0.58:1 0.65:1
32 Total Advance/Class. Advance (%) 7.75% 8.27% 7.92% 8.04% 8.42%
33 Total Adv./Class. Advance (net)% 5.36% 5.92% 5.84% 5.85% 4.32%
34 Income from Equity (%) 11.47% 11.42% 11.41% 12.27% 12.62%
35 Income from Assets (%) 0.94% 0.99% 0.99% 0.99% 1.00%
Other Information
36 Number of Shareholders 52,763 63,083 76,389 82,081 74,336
37 Number of Branches 229 227 223 220 215
38 Number of Employees 3,667 3,743 3,730 3,769 3,560
39 Human Resources Development 2,419 2,654 4,421 1,958 1855

CORPORATE GOVERNANCE
Fairness, transparency, accountability and the responsibility are the minimum standard of
acceptable corporate behavior today. A sound corporate governance practice has consistently
been followed in carrying out the operation of Uttara Bank Limited. The bank management is
smoothly running the day to day activities of the bank within the policy guidelines of the Board
of Directors and in accordance with the legal and regulatory framework of different regulatory
bodies of the country. The main aspects of corporate governance are:
Board of Directors and Committees

The Board of Directors mainly deal with formulation of business policies, service regulation,
procurement policies, approval of large credit proposals, rescheduling of loan, remission of
interest, approval of the long term plan, annual budget and audited accounts of the bank.
The Board within the powers conferred upon it by the articles, determines its function and
responsibilities. The Board retains full and effective control over the bank, determines the
strategies and objectives of the bank and sets the principles for sound business practice. Audit
Committee reviews the internal and external audit, financial reporting, corporate affairs and
compliance matters.
Legal and Regulatory Compliance

Uttara Bank Limited has been carrying out its activities in accordance with the legal and
regulatory requirement of Bangladesh Bank and Bangladesh Securities and Exchange
Commission (BSEC). The bank also ensures compliance of Bank Company Act 1991 (amended
up to 2013), Companies Act 1994, Income Tax Ordinance 1984, Negotiable Instrument Act
1881, Anti-money Laundering Act 2012 and other related laws, regulations and reporting
requirements.
Disclosure and Transparency

Uttara Bank Limited follows a transparent policy in the decision making process and discloses
all material facts in the Annual Report and in the Audited Balance Sheet, Profit and Loss
Account and notes to the financial statements. Besides, periodical reporting disclosures are made
as per requirement of different agencies.
Risk Management
Risk Management Department of Uttara Bank Limited identifies, evaluates, monitors and
supervises all risk related works as per Guidelines and Directions of Bangladesh Bank with the
approval of the Board of Directors and the Competent Authority.
Reviews of Activities
The Board of Directors consistently monitors and reviews the implementations of policies and
overall performance of the bank.

Certificate on Compliance of Corporate Governance Guidelines
to the Shareholders’ of Uttara Bank Limited.
[Issued under Condition # 7 (i) of Corporate Governance Guidelines of BSEC
Vide Notification No.SEC/CMRRCD/2006-158/134/Admin/44 dated 07 August 2012]
We are engaged by Uttara Bank Limited to provide certification whether the company
complied with the conditions of corporate governance guidelines issued by the Bangladesh
Securities and Exchange Commission in its notification number SEC/CMRRCD/2006-
158/134/Admin/44 dated 07 August 2012 and SEC/CMRRD/2006-158/134/Admin/48 dated 21
July 2013 (“the conditions of corporate governance guidelines”)
The Company’s Responsibilities:

Those charged with governance and management of the company is responsible for complying
with the conditions of corporate governance guidelines. Those charged with governance of the
company is also responsible for stating in the directors’ report whether the company has
complied with the conditions of the corporate governance guidelines.
Our Responsibilities:
Our responsibility is to examine the Bank’s status of compliance with the conditions of the
corporate governance guidelines and to clarify thereon in the term of an independent assurance
conclusion based on the evidence obtained. For the purpose of the engagement, we comply with
ethical requirements including independence requirements and plan and perform our procedures
to obtain assurance whether the company has complied with the conditions of corporate
governance guidelines.
Our conclusion has been formed on the basis of and is subject to the matter outlined in this
report. We believe that the evidence we have obtained is sufficient and appropriate to provide a
basis for our conclusion.
Conclusion:
In our opinion, the company has complied with the conditions of corporate governance
guidelines for the year ended 31 December 2016.
Dated: 25 March 2017 Huda & Co.

Place: Dhaka Chartered Accountants

Status/Report on Compliance with the
Corporate Governance Guidelines
Status of compliance with the conditions imposed by the Commission’s Notification No.
SEC/CMRRCD/2006-158/134/Admin/44 dated 07 August 2012 issued under section 2CC of
the Bangladesh Securities and Exchange Ordinance, 1969:
(Report under Condition No. 7.00)
Compliance Status (
in the appropriate
Condition Remarks
Title column)
No. (If any)
Not
Complied
Complied
1. Board of directors
1.1 Number of the board members
1.2 (i) Number of independent directors
1.2 (ii) Independent Director-
1.2 (ii) a) doesn’t hold any share in the company or hold less than 1% shares of The independent
the company Directors of our
Bank do not hold
any share of the
company.
1.2 (ii) b) not connected with the company’s any sponsor or director or
shareholder who holds 1% or more shares of the company
1.2 (ii) c) does not have any other relationship with the company or its
subsidiary/associated companies
1.2 (ii) d) is not a member, director or officer of any stock exchange
1.2 (ii) e) is not a shareholder, director or officer of any member of stock
exchange or an intermediary of the capital market
1.2 (ii) f) is not a partner or an executive or was not a partner or an executive
during the preceding 3 (three) years of any statutory audit firm
1.2 (ii) g) Shall not be an independent director in more than 3 (three) listed
companies;
1.2 (ii) h) has not been convicted by a court as a defaulter to a bank or a NBFI
1.2 (ii) i) has not been convicted for a criminal offence
1.2 (iii) shall be nominated by the board of directors and approved by the
shareholders in the AGM
1.2 (iv) the post of independent directors can’t remain vacant for more than 90 days
1.2 (v) a code of conduct of all Board members and annual compliance of
the code to be recorded
1.2 (vi) the tenure shall be for a period of 3 (three) years
1.3 Qualification of Independent director
1.3 (i) Conversant with financial, regulatory and corporate laws
1.3 (ii) Qualification & corporate management/ professional experiences
1.3 (iii) Relaxation of qualification subject to prior approval of the commission
1.4 Define respective roles of the Chairman and Chief Executive Officer
1.5 The Directors’ Report to Shareholders shall include
1.5 (i) Industry outlook and possible future developments in the industry
1.5 (ii) segment or product wise performance
1.5 (iii) risk and concerns details
1.5 (iv) discussion on profit
1.5 (v) extra-ordinary gain or loss
1.5 (vi) related party transactions
1.5 (vii) utilization of proceeds from public issues, right issues and /or through
any other instruments
1.5 (viii) explanation for the financial results deterioration

Compliance Status (
in the appropriate
Condition Remarks
Title column)
No. (If any)
Not
Complied
Complied
1.5 (ix) reasons for significant financial performance variance
1.5 (x) remuneration to directors
1.5 (xi) financial statements presentation
1.5 (xii) whether maintain proper books of account
1.5 (xiii) appropriate accounting policies followed
1.5 (xiv) conforms of accounting /financial reporting standards
1.5 (xv) implementation and monitoring of internal control system
1.5 (xvi) consideration of going concern concept
1.5 (xvii) reasons for deviations from the last year’s operating system
1.5 (xviii) key operating and financial data of last 5 years
1.5 (xix) reasons for not declared dividend
1.5(xx) disclosure of the number of Board meetings held during the year
1.5(xxi) (a-d) disclosure of shareholding pattern
1.5(xxii) (a-c) a brief resume of the director in case of the appointment /re-appointment
2 Chief Financial officer (CFO), Head of Internal Audit &
Company Secretary (CS)
2.1 Specification of roles, responsibility and duties of CFO, Head of
internal Audit & CS
2.2 Consideration of an agenda relating to CFO & CS
3 Audit Committee
3.1(i) Composition of Audit Committee
3.1 (ii) Formation criteria of audit committee
3.1 (iii) Experience of the Audit committee members
3.1 (iv) Filling of casual vacancy in the audit committee
3.1 (v) Company Secretary as the secretary of the committee
3.1 (vi) The quorum of the Audit Committee
3.2 Chairman of the Audit committee
3.2 (i) Chairman of the Audit committee-an independent director
3.2 (ii) Presence of the chairman in the AGM
3.3 Role of Audit Committee
3.3 (i) Oversee the financial reporting process
3.3 (ii) Monitor choice of accounting policies and principles
3.3 (iii) Monitor internal control risk management process
3.3 (iv) Oversee hiring and performance of external auditors
3.3 (v) Review the annual financial statements before submission to the Board
3.3 (vi) Review the quarterly and half yearly financial statements
3.3 (vii) Review the adequacy of internal audit function
3.3 (viii) Review statement of significant related party transaction
3.3 (ix) Review Management letters /letter of internal control weakness
3.3 (X) Funds utilization report
3.4 Reporting of the Audit Committee
3.4.1 (i) Reporting to the Board of Directors by the Audit Committee of its activities
3.4.1 (ii) a) Reporting to the Board of Directors on conflicts of interests
3.4.1 (ii) b) Reporting to the board of directors on fraud, irregularities, material
defect in the internal control system
3.4.1 (ii) c) Reporting to the board of directors on infringement of laws
3.4.1 (ii) d) Reporting to the Board of Directors on any other matter
3.4.2 Reporting to the Board of directors about financial discrepancy
3.5 Reporting to the shareholders and General investors
4 External/Statutory Auditors shall not perform the following
4 (i) appraisal, valuation services or fairness opinions
4 (ii) design and implement of financial information systems
4 (iii) perform book keeping or other related services
4 (iv) provide broker-dealer services
4 (v) actuarial services

Compliance Status (
in the appropriate
Condition Remarks
Title column)
No. (If any)
Not
Complied
Complied
4 (vi) perform internal audit services
4 (vii) provide any other service that the Audit Committee determines
4 (viii) posses any share of the company
5 Subsidiary Company
5 (i) Provisions relating to the composition of the Board of Directors
5 (ii) Criteria of Independent director for the subsidiary company
5 (iii) Placement of the minutes of subsidiary company to the Board of
the holding company
5 (iv) Review statement of the subsidiary company’s minutes

5 (v) Review of the financial statements of the subsidiary company
6 Duties of CEO and CFO
6 (i) a) Review financial statements
6 (i) b) Certification of true and fair view about the financial statements
6 (ii) Assurance of no fraudulent, illegal or violation occurred in the
financial statements
7 Reporting and Compliance of Corporate Governance
7(i) Certificate from a Professional Accountants/ Secretary
(CA/CMA/CS)
7(ii) Report whether the company was complied with these certificate

REPORT ON GREEN BANKING
Green Banking is a very general term which can cover a multitude of areas from a Bank being
environmentally friendly to how their money is invested. Green Banking considers all the social
and environmental / ecological factors with an aim to protect the environment and conserve
natural resources. Due to unusual weather pattern, global warming, rising greenhouse gas,
declining air quality etc. and consequently the world is being much vulnerable, now the society
demands that businesses should also take responsibility in sustainable development and
safeguarding the planet. Despite that, all the economic activities of a country circles over the
bank. So green banking is the demand of time, can play a vital role to save the world and its
habitable environment.
Bangladesh is one of the most climate change vulnerable country. Being so, additionally the air
pollution, water pollution and scarcity, encroachment of rivers, improper disposal of industrial,
medical and house-hold wastages, deforestation and loss of open space and loss of biodiversity
make the rapid deterioration of its environmental state. In line with global development and
response to the environmental degradation, financial sector in Bangladesh should play important
roles. Green Banking makes great contribution to the transition to resource-efficient and low
carbon industries i.e. green industry and green economy in general. Green banking is a
component of the global initiative by a group of stakeholders to save environment and
sustainable development as well.
Banks hold a unique position in an economic system that can affect production, business and
other economic activities through their financing activities and thus may contribute to pollute
environment. Moreover, energy and water efficiency and waste reduction are of high concern for
many big banks. Green banks do not only improve their own standards but also affect socially
responsible behavior of other businesses. Profit alone does not hold a central focus in such
Bank’s operation. They have to perform for the betterment of the society and for sustainable
economic growth of the country by internal and external activities. Internally, the Bank have to
follow the green strategic planning towards implementation of paperless banking, on-line
banking, e-communications, effective in-house management e.g. minimizing carbon emission,
high efficient use of energy & other resources and wastages management, green marketing etc.
Externally, the Bank invests in environment friendly products & projects and controls the
projects’ contribution to the environmental degradation by ensuring the implementation of
helpful technologies relevant to the concern business. Banks measure the environmental risk
rating as the regular monitoring process of prior and post sanction of the finance. Environmental
and Social risks are now going to be counted as another core risk with existing.
Green Banking transforms the conventional bank to ethical bank, environmentally responsible
bank, socially responsible bank or sustainable bank. This deals with people, planet & profit,
social & community benefit, ensuring allocation efficiency, financial & social stability and
responsible to ethical, human and social commitment. The broad objectives of the banks are to
use their resources with responsibility avoiding wastage and giving priority to environment and
the society.

Bangladesh Bank has advised the banks to adopt a comprehensive Green Banking policy in a
formal and structured manner in line with global norms so as to protect environmental
degradation and ensure sustainable banking practices vide their BRPD circular No.2 dated 27
February 2011. Thereafter, we have also issued and circulated a “Policy Guidelines for Green
Banking” through our Instruction Circular No.1331 dated 24.01.2012. We have circulated fifty
green products through our different instruction circulars being instructed by Bangladesh Bank.
We are trying our best to increase green finance. We have already invested near about Tk.
7058.91 Lac up to 2016 in different green products, details of which are given below:
(Figure in lac)
Solar Energy Bio-gas Plant ETP Brick Industry Vermi-compost Other Total
Year No. No. No. No. No. No.
Amount Amount Amount Amount Amount No. of Amount Amount
of of of of of of
(Tk.) (Tk.) (Tk.) (Tk.) (Tk.) A/c (Tk.) (Tk.)
A/c A/c A/c A/c A/c A/c
2010 8 3.12 2 1.00 10 4.12
2011 109 89.28 7 14.00 116 103.28

2012 32 54.01 44 52.41 1 150.00 0 0 77 256.42
2013 61 67.95 43 56.01 0 0 0 104 123.96
2014 90 70.79 49 66.00 1 100.00 3 1625.00 17 5.30 160 1867.09

2015 176 294.78 56 73.06 0 0 4 3049.78 21 12.65 3 452.00 260 3882.28
2016 168 178.96 52 86.10 0 0 3 247.30 10 8.40 4 301.00 237 821.76
Grand
Total 644 758.90 253 348.58 2 250.00 10 4922.08 48 26.35 7 753.00 964 7058.91
Very recently Bangladesh Bank has issued SFD Circular No.02 dated 01.12.2016 advising the
banks to establish a new Department titled as “Sustainable Finance Department” by dissolving
the existing “Green Banking Department” and “CSR Unit” deploying the chief of Credit
Division as the chief of that. Accordingly, we are going to do.
The Bank assumes the commitment to sustainable development in its mission, social and
environmental responsibility is to value and ensure the integration of the social and
environmental dimensions into its strategies, policies, practices and procedures.

REPORT ON RISK MANAGEMENT
RISK
Risk is a form of uncertainty about outcomes that may have a potentially adverse effect on an
individual or an entity. Risk is subjective as perceived by the entity that would sustain the loss or
injury. In this definition, uncertainties include events which may or may not happen as well as
uncertainties caused by ambiguity or a lack of information.
In Standard 31000 (2009) and ISO Guide 73:2002, the International Standards Organization
defines risk as follows:
Risk is the potential that an event, action or inaction will adversely impact the ability of an entity
to achieve its organizational objectives.
RISK MANAGEMENT
Risk management is the process of identifying, quantifying, and managing the risks that an
organization faces. As the outcomes of banking activities are uncertain, they are said to have
some element of risk.
Through proper risk management one can identify all possible risks, analyze them and then plan
for either contingency or mitigation methods for each. In other words, banking is a business of
risk. In Basel-I, only credit risk was considered, but in Basel-II along with credit risk, operation
risk and market risk have been brought into consideration. Besides these risks, there are some
other risk in banking sector like financial risk, concentration risk, interest rate risk, currency risk,
equity risk, liquidity risk, reputation risk and profit risk. In early 2003 and 2004, the Bangladesh
Bank issued guidelines on six core risks for effective risk management in the banking sector.
These are credit risk management, asset liability risk management, foreign exchange risk
management, internal control and compliance risk management, money laundering risk
management and information & communication technology risk management.
OBJECTIVE OF RISK MANAGEMENT OF UBL
The objective of risk management is to identify and analyze risks and manage their consequences
may cover the following issues:
a) the individuals who take or manage risks in UBL should clearly understand it;
b) UBL risk exposure is within the limits established by the board;
c) risks taking decisions in UBL are explicit and clear;
d) risk taking decisions in UBL are in line with the business strategy and objectives set by
the board;
e) the expected payoffs compensate for the risks taken; and
f) sufficient capital as a buffer is available to take risk.

RISK MANAGEMENT PROCESS OF UBL
Risk Management involves identification, measurement, monitoring and controlling risks.
Risk Management Process
SOUND RISK MANAGEMENT
The key elements of a sound risk management system should encompass the following:-
a) Risk management structure with board and senior management;
b) Organizational policies, procedures and limits that have been developed and implemented
to manage
c) business operations effectively;
d) Adequate risk identification, measurement, monitoring, control and management
information systems that are in place to support all business operations; and
e) Established internal controls and the performance of comprehensive audits to detect any
deficiencies in the internal control environment in a timely fashion.
It should not be understood that risk management is only limited to the individual(s), who are
responsible for overall risk management function. Business lines are equally responsible for the
risks they are taking. Because the line personnel can understand the risks of their activities, any
lack of accountability on their part may hinder sound and effective risk management.

RISK MANAGEMENT STRUCTURE OF UBL
Risk Management Structure of UBL is as under:
ICAAP, MCR, ST Reporting
BOARD
Minutes of
RMC Meeting
MRMR, CRMR
Risk Management Committee of Board
Risk Management BANGLADESH

MRMR, CRMR
Committee BANK
Management Level (BRPD, DOS)
A. Addl. MD/CRO, Chairman
RMC-Management Level
B. DMD Meeting
C. Head of Credit
D. CAMLCO
E. Head of Finance (CFO) Chief Risk Officer (CRO)
F. Head of Board Department
G. Head of Treasury
H. Head of ICCD
I. Head of BCCSD
J. Head of ID
K. Head of ICT
L. Head of HRD
Head of RMD
M. Head of Recovery
N. Head of RMD, Member Secretary
CRM Desk ALM Desk ICC Desk AML Desk ICT Desk FX Desk
Stress Test Desk Capital Management

Desk
Risk Management Structure of UBL
RISK MANAGEMENT GUIDELINE OF UBL
To manage risk in a prudent manner UBL introduced Risk Management Guideline of the Bank
which was approved by Board vide its Board Memo No.21 dated 04/01/2017.

RISK MANAGEMENT DEPARTMENT OF UBL
Uttara Bank Limited has established an independent “Risk Management Unit” on 14 September
2009 in compliance with the instruction of Bangladesh Bank, letter no. DOS (EW)
1164/14(Uttara)/2009-442 dated 10.06.2009 and it became “Risk Management Department”
through the Bank’s Information Circular Letter No. 667 dated 14.09.2009. The Risk
Management Department (RMD) manages and measures risks as per regulatory requirements in
accordance with the bank’s approved risks parameters independently. A Management-Level Risk
Management Committee (RMC) of the bank was also formed as per DOS Circular Letter No. 13
dated 09 September 2015 comprising executives of the respective Divisions/Departments headed
by the Deputy Managing Director who is called Chief Risk Officer (CRO). The committee is
looking after the implementation of integrated risk management systems of the bank. Again, The
Bank also issued an office order for designated as Head of Risk Management Department
(RMD) of the Bank.
RISK MANAGEMENT COMMITTEE OF THE BOARD
In compliance with the sub-section (3) of section 15kha of Bank Company (Amended) Act, 2013
and the subsequent BRPD Circular No. 11 dated 27 October 2013 issued by Bangladesh Bank,
Uttara bank Limited has formed a committee named as “Risk Management Committee of the
Board” on 30 October 2013. The names & status of the members of the Risk Management
Committee are as follows:
SL Name of the Directors Designation Status with the

No. Committee
01 Mr. Iftekharul Islam Vice-Chairman Chairman
02 Col. Engr. M.S. Kamal (Retd.) Director Member
03 Mr. Faruque Alamgir Director Member
04 Mr. Mohammed Rabiul Hossain Managing Director & CEO Member
05 Mr. Iftekhar Zaman EGM Secretary
Salient Feature of the Objectives and Responsibilities of the Risk Management Committee of the
Board are to oversee as to whether various core risks of the Bank i.e. credit risk, foreign
exchange risk, internal control & compliance risk, money laundering risk, ICT risk, operational
risk , interest rate risk, liquidity risk and other risks have been properly identified and measured
by the Bank Management and whether adequate risk management and risk mitigation systems
have been put in place by the Bank Management and whether adequate provisions and capital
have been maintained.
RESPONSIBILITIES OF RISK MANAGEMENT DEPARTMENT OF UBL
There are various functions in the Risk Management Department among others, the followings
are main task:
a) To prepare monthly Risk Management Report as per format provided by Bangladesh Bank;
b) To collect information from 06 (six) Core Risks or other risks related Departments/
Divisions of the Bank;

c) To prepare a consolidated Monthly/Quarterly (except June and December) Risk
Management Report and “Comprehensive Risk Management Report” for the half-year
ended June/December by analyzing all reported risk as per tables/formats provided by
Bangladesh Bank;
d) To arrange meeting of Management-Level Risk Management Committee (RMC) on
monthly basis and to present the status of 06 (six) core risks with any exceptional situation;
e) To get pass the Minutes of the meeting;
f) The copy of the Risk Management Report along with the minute of the meeting of
Management-Level Risk Management Committee is to report through proper channel to
CEO/MD for kind perusal and necessary instruction/approval;
g) Any exceptional situation is to report to CEO/MD immediately;
h) To oversee the 06 (six) core risks;
i) To prepare risk appetite of the Bank;
j) Copies of Minutes of the meeting of the Management-Level Risk Management
Committee along with monthly Risk Management Report and Comprehensive Risk
Management Report are to forward to Department of Off-sight Supervision, Bangladesh
Bank on monthly/half-yearly basis;
k) Finally, to comply with the Bangladesh Bank of various issues/inspection etc.
ORGANOGRAM OF RISK MANAGEMENT DEPARTMENT OF UBL

Organogram of the Risk Management Department of the Bank in the following manner as per
instruction/ guidelines of Bangladesh Bank:-
CORE RISK MANAGEMENT
Banks face significant risk management challenges in the run-up to Basel III and other
regulation. In essence however these challenges are not far removed from core conservative
principles of banking in the key areas of capital and liquidity management and corporate
governance. In line with the Bangladesh Bank instruction Uttara Bank Limited has taken various
initiatives for strengthening risk management practices in conjunction with the business strategy

and operational activities. UBL has an integrated approach for management of risk and in this
regard it has formulated policy documents taking into account the business requirements/best
international practices and above all as per the guidelines of the Bangladesh Bank.
Banking companies in Bangladesh, while conducting day-to-day operations, usually face the
following major risks:
1. Credit risk (including concentration risk, settlement risk, Environmental Risk)
2. Market risk (including interest rate risk in the banking book, foreign exchange risk, and
equity market risk)
3. Operational Risk
4. Other risks (Liquidity, Compliance, strategic, reputation and money laundering risk)
01. CREDIT RISK
Credit Risk is defined as a potential loss arises

when a debtor or financial instrument issuer is
unwilling or unable to meet its contractual
obligation to repay the debt according to the agreed
terms with the lenders or Banks. It can occur when
the counterpart either defaulting or making late
payments of interest or principal.
The effective management of credit risk is a critical

component of a comprehensive approach to risk
management. It is essential for long term success of
any Bank. The goal of credit risk management is to maximize a Bank’s risk adjusted rate of
return by maintaining credit risk exposure within acceptable parameters. Bank need to manage
the credit risk inherent in the entire portfolio as well as the risk in individual credits or
transactions.
Credit risk management is a continuous effort of identifying, measuring, monitoring and
mitigating the credit risk in both pre sanction stage as well as post sanction stage. Following
table refers the applicability of the steps in those two stages.
CREDIT RISK MANAGEMENT FRAMEWORK
Uttara Bank Limited may include the following components in its Credit Risk Management
Framework:
CREDIT RISK MANAGEMENT FRAMEWORK

a) Role of the Board
b) Role of Senior Managements
c) Credit Risk Management Committee(CRMC)
d) Organizational structure
e) Systems and procedures for identification, acceptance, measurement of risks
f) Monitoring and control of risks

MEASURING CREDIT RISK
The measurement of credit risk is a vital part of credit risk management. To start with, Uttara
Bank Limited established credit risk rating framework across all type of credit activities. Among
other things, the rating framework incorporated:
Business risk Financial Risk

i. Industry characteristics i. Financial Condition
ii. Competitive position (e.g. marketing/technological edge) ii. Profitability
iii. Management iii. Capital Structure
iv. Present & Future Cash Flows
CREDIT RISK MITIGATION
Credit Risk Mitigation can be through agreements made between the bank and the borrower, or
between the bank and a third party, which lower the credit risk to the bank. The existence of
credit risk mitigation is no substitute for proper loan underwriting and loan administration.
COLLATERAL
UBL try to have as much security coverage as possible against each and every
credit facility sanctioned to the customers. Security requirement will be
determined on case to case basis based on customer’s business strength; level of
risk bank is undertaking and Banker Customer Relationship.
THIRD PARTY GUARANTEE

UBL always comfort to the guarantee of its own client and merely substitutes the
credit risk of the guarantor for that of its own client. In case of guarantees, bank
should evaluate the level of coverage being provided in relation to the credit-
quality and legal capacity of the guarantor.
CREDIT ADMINISTRATION
The credit administration function is basically a back office activity that supports and controls
extension and maintenance of credit. While developing credit administration areas, UBL ensure
the following to administrate credit properly:
Monitoring documentation, contractual requirements, legal covenants, collateral, etc.
The accuracy and timeliness of information provided to management information systems.
The adequacy of control over all “back office” procedures and
compliance with prescribed management policies and procedures as well as applicable
laws and regulations
CREDIT MONITORING & CONTROL

UBL develop and implement comprehensive procedures and information systems to monitor the
condition of each individual credit across various portfolios. Bank has enunciated a system that
enables to monitor quality of the credit portfolio on a day to day basis and take remedial
measures as and when any deterioration occurs.

These procedures will define criteria for identifying and reporting potential problem credits and
other transactions to ensure that they are subject to more frequent monitoring as well as possible
corrective action, classification and/or provisioning. Establishing an efficient and effective credit
monitoring system would help senior management to monitor the overall quality of the total
credit portfolio and its trends and helps to reassess credit strategy/policy accordingly before
encountering any major setback.
CREDIT CONCENTRATION RISK
Concentration risk generally designates the risk arising from an uneven distribution of
counterparties in credit or any other business relationships or from a concentration in business
sectors or geographical regions which is capable of generating losses large enough to jeopardize
an institution’s solvency.
Concentration risk arises when any bank invests its most or all of the assets to single or few
individuals or entities or sectors or instruments. Downturn in concentrated activities and/or areas
may cause huge losses to a bank relative to its capital and can threaten the bank’s health or
ability to maintain its core operations.
ENVIRONMENTAL RISK MANAGEMENT
Climate change is a global physical phenomenon with very drastic

and adverse environmental, social and human consequences.
Bangladesh is already experiencing climate-induced extreme
weather events, e.g. cyclones, floods and droughts periodically. Due
to climate change, these are expected to be more intense and more
frequent. Borrowers whose operations are vulnerable to extreme weather events are likely to be
affected. Climate change impacts can lead to the borrowers not being able to continue the
business activity and hence unable to service / repay the financing taken from the Banks/FIs.
Giving more emphasis on the above topics, Bangladesh Bank vide BRPD circular no.01 dated
30.01.2011 forwarded the guidelines on Environmental Risk Management (ERM) to Banks/
NBFIS for the awareness and preparedness for easy adoption and smooth compliance of the
same which was developed by Bangladesh in collaboration with international Finance
corporation. To comply with the Bangladesh Bank guidelines and adoption thereof in our bank,
Uttara Bank Limited prepared its own guidelines. The main purposes of this guideline are to
make the executives and officers of our bank well conversant with the policy and strategy of the
bank regarding the environment risk management in credit operation.
This Guideline will be the integral part of the Bank’s Credit Risk Management. It should
necessarily be used for all individual customers (corporate, institutional, personal, small and
medium enterprise) whose aggregate facilities are above the following financing thresholds:
For Small and Medium Enterprises (SMEs), financing > BDT 2.5 million
For Corporate, financing > BDT 10 million. and
For real estate financing > BDT 10 million.

Any credit proposal of the bank falling above the financing thresholds mentioned above must
come with EnvRR on (Environmental Risk Rating) determined by administering of the General
EDD checklist and sector specific EDD provided by Bangladesh Bank. It may be mentioned here
that our green banking department is so much aware of environmental risk. They have already
taken many steps to educate our employees and clients.
02. MARKET RISK
Market Risk can be defined as the risk of losses in

both on-balance sheet and off-balance sheet positions
arising from adverse movements in market prices.
From a banks perspective Market Risk stems from all
the positions included in banks' trading book as well
as from commodity and foreign exchange risk
positions in the whole balance sheet.
Market risk can be subdivided into three categories
depending on risk factors:
a) Interest Rate Risk,
b) Foreign Exchange Risk, and
c) Equity Price Risk.
A) INTEREST RATE RISK

The potential losses from unexpected changes in interest rate which can significantly alter bank
profitability & market value of equity. The amount interest rate risk is a function of the
magnitude and direction of interest rate changes and the size and maturity structure of the
mismatch position.
Such risk can’t be eliminated as re-pricing period of assets and liabilities are different. Other than
re-pricing issue, sources of interest risk are: yield curve risk, basis risk, and embedded options.
The immediate impact of a variation in interest is on the bank’s net interest income, while a long
term impact is on bank’s net worth since economic value of banks assets, liabilities and off
balance sheet exposures are affected.
MEASUREMENT OF INTEREST RATE RISK

For measuring interest-rate risk bank use a variety of methods. The level of sophistication and
complexity of individual methods varies. In professional literature the most frequently stated are
the analysis of maturity and re-pricing tables, or simply termed gap analysis, the duration gap
method, the basis point value method, and simulation methods. Bank may use a combination of
these techniques in managing its interest rate risk exposure.
INTEREST RATE RISK MANAGEMENT & CONTROL

Bank’s interest rate risk management involves the application of following basic elements in the
management of assets, liabilities, and OBS instruments. Principles of interest rate risk
management include:

a) Appropriate board and senior management oversight;
b) Adequate risk management policies and procedures;
c) Appropriate risk measurement, monitoring, and control functions; and
d) Comprehensive internal controls and independent audits.
The bank measures the impact of interest rate risk via GAP analysis and GAP is categorized as
positive gap and negative gap. Positive gap = Rate Sensitive Asset (RSA) less Rate Sensitive
Liabilities (RSL) whereas Negative gap = Rate Sensitive Asset (RSA) less Rate Sensitive
Liabilities (RSL). Bank has developed and implemented effective and comprehensive procedures
and information systems to manage and control interest rate risk in accordance with its interest
rate risk policies. Internal inspections/audits are a key element in managing and controlling
interest rate risk management program.
Moreover, to measure and control interest rate risk the following facts/figurers/ratios are
assessed in monthly ALCO papers.
i) Interest Rate Break Down: Interest Rate Break Down = Interest rate break up for Assets
and Liabilities Net
ii) Interest Income: Net Interest Income = Total Interest Income Minus Total Interest
Expenses
iii) Net Interest Margin: Net Interest Margin = Net Interest Income / Total Average
Earning Assets
iv) Interest Earning Assets/Total Assets
v) Cost of Fund: (Weighted average Cost of deposit + Weighted average Cost of borrowing
+ Admin cost).
vi) Average Interest Rate of Loans :(on realized amount of Interest)
vii) Average Interest Rate of Deposits: (on payment amount of Interest)
viii) Tools to minimize Interest Rate Risk such as VaR ( Unavailability of software and & data)
B) FOREIGN EXCHANGE RISK
Foreign exchange risk is the risk that a business’s financial performance or position will be
affected by fluctuations in the exchange rates between currencies. The risk is most acute for
businesses that deal in more than one currency.
Foreign exchange risk is the risk of an investment's value changing due to changes in
currency exchange rates. Foreign exchange risk is the risk that an investor will have to close out a
long or short position in a foreign currency at a loss due to an adverse movement in exchange rates.
FOREIGN EXCHANGE RISK MANAGEMENT

Limits on a bank's foreign exchange exposure reflects both the specific foreign currency
exposures that arise from daily foreign currency dealing or trading activities (transactional
positions) and those exposures that arise from a bank's overall asset/liability infrastructure, both
on- and off-balance sheet (structural or translational positions). The establishment of aggregate
foreign exchange limits that reflect both foreign currency dealing and structural positions helps
to ensure that the size and composition of both positions are appropriately and prudently
managed and controlled and do not overextend a bank's overall foreign exchange exposure.

Moreover, In Charge of Back office, Foreign Exchange is assisted by his/her officers/staffs to
perform following functions / responsibilities:
Input, verification and settlement of deals.
Preparation of currency position.
Managing discrepancies and disputes.
Reconcile all foreign currency Nostro accounts.
Immediately advise USD/BDT or cross currency dealer of any discrepancy.
Track for reconcilement of any unmatched item.
Claim or arrange payment of good value for any late settlements.
Investigate and match un-reconciled amounts.
Advise USD/BDT and cross currency dealer of correct currency positions prior to
commencement of day’s dealing activities.
Settle for all foreign currency deals done by USD/BDT and cross currency dealers.
Send and receive confirmations of all deals done by USD/BDT and cross currency dealers.
Check foreign currency Nostro statements for settlements of major items.
Advise dealers of any discrepancy in settlement.
Prepare and send daily Exchange Position to Bangladesh Bank.
All related accounting entries.
Generate various MIS.
Send all required regulatory reports at required intervals.
Respond to various queries from regulators regarding reports.
Coordinate with other departments in receiving required information for reporting purpose.
Create awareness among various related departments of the importance of effective and
accurate reporting.
Monitor limits utilizations against all internal and regulatory risk limits.
Reporting of limit excesses etc.)
C) EQUITY PRICE RISK

Equity price risk is the risk of losses caused by changes in equity prices.
These losses could arise because of
changes in the value of listed shares held directly by the bank
changes in the value of listed shares held by a bank subsidiary
changes in the value of listed shares used as collateral for loans from a Bank a bank
subsidiary, whether or not the loan was made for the purpose of buying the share and
changes in the value of unlisted shares.
EFFECTIVE EQUITY PRICE RISK MANAGEMENT
Equity investment follows the risk appetite.

Management should have broad capital markets experience
Management should establish strong policy controls and risk limits for capital Market.
Risk management personnel should have an in-depth understanding of equity market
risk and risk management principles, including VaR.

There should be formal procedures to report how and why exceptions have occurred,
and how they have been resolved.
Management reports should be prepared independently of the investing and trading
function and should provide a comprehensive and accurate summary of investing and
trading activity.
Risk monitoring, valuation, and control functions should be independent of the
trading and investing functions
measurement of how much and why profitability, balance sheet capital, and
regulatory capital will be affected by major declines in the equity market overall, or in
the value of individual shares
MEASURING EQUITY PRICE RISK
Value at Risk (VaR) is generally accepted and widely used tool for measuring market risk inherent
in trading portfolios. VaR summarizes the predicted maximum loss (or worst loss) over a target
horizon within a given confidence level. Generally there are three methods of computing VaR:
Parametric or variance-covariance method

Historical simulation method
Monte Carlo simulation method
03. OPERATIONAL RISK
Operational Risk is the risk of financial losses

related to breakdown in internal control and
corporate governance. Such breakdown can be
the result of human error, inadequate or failed
internal processes and technical systems, fraud,
or from any other adverse external events
Operational risk is defined as the risk of
unexpected losses due to physical catastrophe,
technical failure and human error in the
operation of a bank, including fraud, failure of
management, internal process errors and unforeseeable external events. It is clear that operational
risk differs from other risks in that it is typically not directly taken in return for an expected
reward, but exists in the natural course of corporate activity, and that this affects the risk
management process. At the same time, failure to properly manage operational risk can result in
a misstatement of a bank's risk profile and expose the bank to significant losses.
Operational risk can be subdivided into two components:

Operational strategic risk and
Operational failure risk. It is also defined as internal operational risk.

OPERATIONAL RISK MANAGEMENT POLICY
RISK MONITORING
An effective monitoring process is essential for adequately managing operational risk. Regular
monitoring activities can offer the advantage of quickly detecting and correcting deficiencies in
the policies, processes and procedures for managing operational risk. Promptly detecting and
addressing these deficiencies can substantially reduce the potential frequency and/or severity of a
loss event. The personals, involve in operational risk, report regular to senior management and
the board that supports the proactive management of operational risk.
Senior management established a program to:
a) Monitor assessment of the exposure to all types of operational risk faced by the bank;
b) Assess the quality and appropriateness of mitigating actions, including the extent to which
identifiable risks can be transferred outside the bank; and
c) Ensure that adequate controls and systems are in place to identify and address problems
before they become major concerns.
RISK CONTROL
Operational risks are analyzed through review of
Departmental Control Function Check List (DCFCL)
Quarterly Operation Report
Loan Document Checklist
DEPARTMENTAL CONTROL FUNCTION CHECKLIST (DCFCL)

The guideline/ procedure deals with matters relating to review/ verifications of departmental
functions to ensure that prescribed procedures are being followed by each department.
All departments are required to check that prescribed controls are being observed and laid down
procedures are not overlooked & relaxed.
Departmental Heads, Zonal Heads, Branch Managers review the DCFCL to ensure that control
functions are performed and documented in the control sheets at the prescribed frequencies i.e.
daily, weekly, monthly and quarterly.
The DCFCL is retained with the branch/departments for future inspection by Audit Team/ Senior
Executives.
QUARTERLY OPERATION REPORT (QOR)
Reporting of operational functions of each branch / office under the following heads on the
enclosed format:
Policies, procedures and Controls Protection of Valuables
Proofs/ Verifications and Internal Checks Personnel and Supervision
Premises Management and Confirmation on Regulatory Compliance

LAON DOCUMENTATION CHECKLIST
The checklist deals with matters relating to security documentation for sanctioning and draw
down credit facilities to ensure that prescribed charge documents and required securities are
being obtained as per sanction terms to safe guard Bank’s interest.
The check list is prepared in duplicate by the branch in the prescribed format. one copy of the
same is sent to the Head of compliance Department for review and another copy be retained with
the branch for their record and also for future inspection by Audit Team.
04. LIQUIDITY RISK
Liquidity risk is the risk that a company or bank may be unable to meet short term financial
demands. This usually occurs due to the inability to convert a security or hard asset to cash
without a loss of capital and/or income in the process.
CAUSES OF LIQUIDITY RISK
Imbalance between maturity dates of the Assets and Liabilities.

High proportion of Liabilities subject to immediate repayment
Unexpected Deposit drains
Sensitivity to change in Interest Rates
LIQUIDITY RISK MANAGEMENT PROCESS OF BANK
There are three alternative strategies to manage the Liquidity Risk which are as follows:
a) Asset Liquidity Management Policy
b) Liability Management Policy
c) Balance Liquidity Management Policy
Responsibility of managing and controlling liquidity of the bank lies with Asset Liability
Committee (ALCO) and the committee meets at least once in every month. Asset and Liability
Management (ALM) Department of the Treasury Division closely monitors and controls
liquidity requirements on a daily basis by appropriate coordination of funding activities and they
are primarily responsible for management of liquidity in the bank. Asset & Liability
Management Department has developed own customized ALM Risk ranking Model to measure
ALM Risk periodically. This Model has been ratified by the Board of Directors in its meeting
held on 16.07.2014 vide Board Memorandum No. 234, dated 13.07.2014
Moreover, this model has been submitted to Bangladesh Bank as the part of ICAAP
Supplementary Documents and ICAAP reporting. ALM Department performs the following
activities to minimize the Liquidity Risk-
Maintenance of CRR and SLR.
Investment in Treasury Bills/Bond Portfolio.
Repo/Reverse Repo activities.
Propose to the ALCO (through the head of treasury) of statutory investments.

Call money activities.
Spot any arbitrage opportunities and take advantage.
Remaining within all counter party limits at all times.
Operating within all given balance sheet gap limits.
Profitably trading.
Primary dealership activities.
Money Market Product Pricing
Other investment in local currency
Adherence to various internal as well as regulatory policies
Maintenance of CDBL Software.
Daily report to Head of Treasury.
ALM Department also calculates the followings to manage the liquidity risk:-
Snap Liquidity Ratio = Liquid Assets/Total external Liabilities
Short Term Borrowings/Liquid Assets Ratio
Volatile Liability/Total Assets Ratio
Total Loans/Total Deposits Ratio
Management Forecast Liquidity Ratios
Composition of Liquid Assets (Local)
Composition of Liquid Assets (External)
Volatile Liability dependence.
Size of Deposits
05. MONEY LAUNDERING RISK
Money Laundering means:

Properties acquired or earned directly or indirectly through illegal means;
Illegal transfer, conversion, concealment of location or assistance in the above act of the
properties acquired or earned directly or indirectly through legal or illegal means.
Uttara Bank Ltd. never conceals the true source of funds. It is an objective of the Bank to prevent
criminals from using the bank’s facilities, systems and services to conceal their illegal activity.
Therefore, the Bank has a process which allows for identification of unusual transactions, pattern
and activity.
Uttara Bank Ltd is committed to continue or conduct its business in conformity with high ethical
standards in the countries in which it operates business, and to fully adhere to all laws and
regulations pertaining to Banks. With a view to ensuring that the Bank is not used as a channel
for criminal funds, all the branches and concerned Divisions at Head office of our Bank continue
to make reasonable efforts in:
A. Establishing banking relationship according to the Bank’s Customer Acceptance Policy.
B. Determining true identity of all customers and beneficial owners of the products and
services of the Bank.
C. Assessing the level of risk exposure of the client and product.
D. Driving appropriate security measures on the basis of risk analysis.

E. Ongoing monitoring of client’s account activities and transactions to detect unusual
/suspicious transactions or activities.
F. Reporting all the suspicious transactions, pattern and activities to the competent authority.
G. Giving special attention to correspondent banking business.
H. Timely submitting periodical statements and necessary information as per requirements
to the competent authority.
I. Imparting training on the issue of AML & ATF for all the employees (including trainees
and temporary personnel and taking various steps for building up awareness among the
customers for prevention of money laundering and terrorist financing.
J. Preserving all relevant records, documents, papers of the clients for a minimum period of
5 years from the date of closure of banking relationship with them.)
06. INTERNAL CONTROL & COMPLIANCE RISK

Internal control is the process, effected by a company's board of directors, management and other
personnel, designed to provide reasonable assurance regarding the achievement of objectives in
the effectiveness and efficiency of operations, the reliability of financial reporting and
compliance with applicable laws, regulations, and internal policies.
Internal controls are the policies and procedures established and implemented alone, or in
concert with other policies or procedures, to manage and control a particular risk or business
activity, or combination of risks or business activities, to which the company is exposed or in
which it is engaged.)
RISK RECOGNITION AND ASSESSMENT
An effective internal control system continually recognizes and assesses all of the
material risks that could adversely affect the achievement of the Bank's goals.
Effective risk assessment must identify and consider both internal and external factors"
Internal factors include complexity of the organization structure, the nature of the bank's
activities, the quality of personnel, organization changes and also employee turnover.
External factors include fluctuating economic conditions, changes in the industry, socio-
political realities and technological advances.
Risk assessment by Internal Control System differs from the business risk management
process which typically focuses more on the review of business strategies developed to
maximize the risk/ reward trade off within the different areas of the bank. The risk
assessment by Internal Control focuses more on compliance with regulatory
requirements, social, ethical and environmental risks those affect the banking industry.
MONITORING ACTIVITIES AND CORRECTING DEFICIENCIES
The overall effectiveness of the bank’s internal controls is monitored on an ongoing

basis. Monitoring of key risks is part of the daily activities of the bank as well as periodic
evaluations by the business lines and internal audit team.

There is an effective and comprehensive internal audit of the internal control system
carried out by operationally independent, appropriately trained and competent staff
specially designated by the Management. The significant deficiencies identified by the
audit team reports to the Board on a periodic basis. Such report is forwarded to the Audit
Committee of the Board for review.
Internal control deficiencies, whether identified by internal audit or other control
personnel is reported in a timely and prompt manner to the appropriate management level
and addressed immediately. Material internal control deficiencies are reported to senior
management and the board of directors.
INFORMATION AND COMMUNICATION TECHNOLOGY (ICT)
With the increasing use of Information and Communication Technology in the activities of the
Banks, the system of Information and Communication Technology risk management has become
important. The process deals with finding out the weakness in a particular operation and the
using most suitable strategy to deal with it.
A risk is the act of violating an explicit or implied security policy. The following actions can be
classified as incidents:
1. Attempts to gain unauthorized access to a system or its data; masquerading, spoofing as

authorized users
2. Unwanted disruption or denial of service
3. The unauthorized use of a system for the processing or storage of data by
authorized/unauthorized users
4. Changes to system hardware, firmware or software characteristics and data without the
application owner’s knowledge
5. Existence of unknown user accounts
(Risks could result in un-authorized access, disclosure of information, corruption of information
or denial of service)
RISK IDENTIFICATION
Users and System Administrator follow these policies in identifying a risk:
Abnormal system resource usage: If the CPU, memory utilization on a system is very high,
the system could have been compromised. Attackers use compromised systems for spreading
viruses or attacking other machines leading to high resource utilization. System
Administrator tracks resource utilization and analyze reasons for any abnormal usage.
Users experience slow response: End users could experience slow response times if the
application servers or the network has been compromised and is being used for malicious
purposes. Virus or worm outbreak could lead to network congestion that would in-turn
cause application responses to be slow and unstable. End users report any drastic drop in
application response or system stability to System Administrator.

Data corruption: Unauthorized modification or deletion of data or inability to retrieve
data in correct format or web site defacement.
Changes in passwords and user-id: System users report to System Administrator if they
find the passwords do not work. Any changes in user passwords, addition/deletion of
user accounts could be indications of system compromise.
Traffic on non-essential ports: If there is network traffic on ports that are not used by
any of the internal applications this could be signs of a backdoor application in the
network. The traffic is tracked and reported by the monitoring team. If the backdoor
application tries to traverse the firewall, these are tracked by the firewall logs.
Existence of unknown user accounts: Normally, attackers create new accounts on the
systems after they are compromised. Existence of unknown user accounts, especially
those with administrative privileges, could indicate that system has been attacked.
RISK PREVENTION
Risk handling process is to conduct a detailed analysis to identify the strong and weak points in
the existing ICT infrastructure and policies. If needed, ICT Division recommends for necessary
changes to security policies, standards and procedures. If any immediate steps need to be taken
to prevent re-occurrence of risk, the same are communicated to all relevant personnel by ICT
Division. ICT Division maintains a database of risks and solutions. This helps in providing
quicker solutions if the same or similar risk happens again. Based on the learning from the risk,
ICT Division recommends to the Management of the Bank for procuring additional security
services and solutions (if required) for improving security. Moreover,
To minimize and control the IT risk, our Bank has strengthened ICT Security
infrastructure, develop Business Continuity Plan (BCP).
The BCP is formulated to cover operational risks and taking into account the potential for
wide area disaster, data centre disaster and the recovery plan. The BCP takes into account
the backup and recovery process.
To comply with the ICT guideline of Bangladesh Bank, an independent audit team has
been formed under Internal Control & Compliance Division.
RISK RECOVERY
Depending on the nature of the risk and based on the action plan drawn up by ICT Division, all
system personnel and security professionals recover the risk. Recovery involves identifying and
eliminating the cause of the risk. This could involve a series of activities including implementing
additional security controls, installation of new patches, recovery of systems backups, and
reconfiguration of security devices including Firewall rule base and intrusion detection system alerts.
STRESS TESTING IN RISK MANAGEMENT
Stress testing is a simulation technique, which is used to determine the reactions of different
financial institutions under a set of exceptional, but plausible assumptions through a series of

battery of tests. At institutional level, stress testing techniques provide a way to quantify the
impact of changes in a number of risk factors on the assets and liabilities portfolio of the
institution. For instance, a portfolio stress test makes a rough estimate of the value of portfolio
using a set of exceptional but plausible events in abnormal markets. These tests help in managing
risk within a financial institution to ensure optimum allocation of capital across its risk profile.
The system level stress tests also complement the institutional level stress testing by providing
information about the sensitivity of the overall financial system to a number of risk factors.
These tests help the regulators to identify structural vulnerabilities and the overall risk exposure
that could cause disruption of financial markets. Its prominence is on potential externalities and
market failures.
TECHNIQUES OF STRESS TESTING
a) Simple Sensitivity Analysis (single factor tests) measures the change in the value of
portfolio for shocks of various degrees to different independent risk factors while the
underlying relationships among the risk factors are not considered.
b) Scenario Analysis encompasses the situation where a change in one risk factor affects a
number of other risk factors or there is a simultaneous move in a group of risk factors.
Scenarios can be designed to encompass both movements in a group of risk factors and
the changes in the underlying relationships between these variables (for example
correlations and volatilities).
c) Extreme Value/ Maximum Shock Scenario measure the change in the risk factor in the
worst-case scenario, i.e. the level of shock which entirely wipes out the capital.

Auditors’ Report
and
Financial Statements
of
UTTARA BANK LIMITED

INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDERS
OF
UTTARA BANK LIMITED
We have audited the accompanying consolidated financial statements of Uttara Bank Ltd. and its
subsidiaries (together referred to as the “Group”) as well as the separate financial statements of Uttara
Bank Ltd. (the “Bank”) which comprise the consolidated and separate Balance Sheets as at 31
December 2016, consolidated and separate profit and loss accounts, statements of changes in
equity and cash flow statements for the year then ended, and a summary of significant accounting
policies and other explanatory information disclosed in notes 1 to 44.
Management’s Responsibility for the Financial Statements
Management of the Bank is responsible for the preparation and fair presentation of these consolidated
financial statements of the Group and also separate financial statements of the Bank that give a true and
fair view in accordance with Bangladesh Financial Reporting Standards (BFRS) as explained in Note
3.01 and for such internal control as management determines is necessary to enable the preparation of
consolidated financial statements of the Group and also separate financial statements of the Bank that are
free from material misstatement, whether due to fraud or error. The Bank Companies Act, 1991(as
amended in the year 2013) and the local central bank (Bangladesh Bank) Regulations require the
Management to ensure effective internal audit, internal control and risk management functions of the
Bank. The Management is also required to make a self-assessment on the effectiveness of anti-fraud
internal controls and report to Bangladesh Bank on instances of fraud and forgeries.
Auditors’ Responsibility
Our responsibility is to express an opinion on these consolidated financial statements of the Group and
the separate financial statements of the Bank based on our audit. We conducted our audit in accordance
with Bangladesh Standards on Auditing (BSA). Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether the
consolidated financial statements of the Group and the separate financial statements of the Bank are
free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the consolidated financial statements of the Group and separate financial statements of the Bank. The
procedures selected depend on our judgment, including the assessment of the risks of material
misstatement of the consolidated financial statements of the Group and the separate financial
statements of the Bank, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s preparation of consolidated financial statements of the
Group and separate financial statements of the Bank that give a true and fair view in order to
design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting
estimates made by management, as well as evaluating the overall presentation of the consolidated
financial statements of the Group and the separate financial statements of the Bank.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.
Opinion
In our opinion, the consolidated financial statements of the Group and also separate financial statements of the
Bank are prepared and maintained according to the Bangladesh Accounting Standard (BAS) and the

Bangladesh Financial Reporting Standard (BFRS) as explained in note-3.01 give a true and fair view of the
consolidated financial position of the Group and the separate financial position of the Bank as at 31 December
2016, and of its consolidated and separate financial performance and cash flows for the year then ended and
comply with the Companies Act 1994 and Banking Companies Act 1991 (as amended in the year 2013).
Report on Other Legal and Regulatory Requirements
In accordance with the Companies Act 1994, Securities and Exchange Rules 1987, the Bank Companies
Act 1991(as amended in the year 2013) and the rules and regulations issued by Bangladesh Bank, we also
report the following:
i. we have obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purpose of our audit and made due verification thereof;
ii. to the extent noted during the course of our audit work performed on the basis stated under the Auditors’
Responsibility section in forming the above opinion on the consolidated financial statements of the Group
and the separate financial statements of the Bank and considering the reports of the Management to
Bangladesh Bank on anti-fraud internal controls and instances of fraud and forgeries as stated under the
Management’s Responsibility for the Financial Statements and Internal Control:
a) internal audit, internal control and risk management procedure practicable for the respective job of the Group
and the Bank as disclosed in Note 2.00 to the financial statements appeared to be materially adequate;
b) nothing has come to our attention regarding material instances of forgery or irregularity or
administrative error and exception or anything detrimental committed by employees of the Bank
and its related entities;
iii. financial statements of all subsidiaries of the Bank have been audited by Rahman Mostafa Alam & Co.
(Chartered Accountants) and have been properly reflected in the consolidated financial statements;
iv. in our opinion, proper books of account as required by law have been kept by the Group and the Bank so
far as it appeared from our examination of those books and proper returns adequate for the purpose of our
audit have been received from branches not visited by us;
v. the consolidated balance sheet and consolidated profit and loss account of the Group and the
separate balance sheet and separate profit and loss account of the Bank together with the annexed
notes dealt with by the report are in agreement with the books of account and returns;
vi. the expenditures incurred were for the purpose of the Bank’s business;
vii. the consolidated financial statements of the Group and the separate financial statements of the Bank have
been drawn up in conformity with prevailing rules, regulations and accounting standards as well as
related guidance issued by Bangladesh Bank;
viii. adequate provisions have been made for advances and other assets which are in our opinion, doubtful of
recovery and as per decision taken in tripartite meeting held on March 22, 2017 and complying the instruction of
Bangladesh Bank vide letter no. DBI-1/7009/2017-1287 dated April 09, 2017;
ix. the records and statements submitted by the branches have been properly maintained and consolidated
in the financial statements;
x. the information and explanations required by us have been received and found satisfactory;
xi. we have reviewed over 80% of the risk weighted assets of the Bank and we have spent around 7,840
person hours during the audit; and
xii. Capital to Risk weighted Assets Ratio (CRAR) as required by the Bangladesh Bank has been maintained
adequately during the year.
Dated: Dhaka Shafiq Basak & Co. RAHMAN MOSTAFA ALAM & Co.
12 April 2017 Chartered Accountants Chartered Accountants

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2016
Amount in Taka
Notes
2016 2015
PROPERTY AND ASSETS
Cash 4.00.a
Cash in Hand (including foreign currencies) 2,527,838,471 2,563,655,628
Balance with Bangladesh Bank and its
agent Bank(s) (including foreign currencies) 10,241,301,021 9,891,998,568
12,769,139,492 12,455,654,196
Balance with other Banks and
Financial institutions 5.00.a
In Bangladesh 22,837,683,031 7,758,192,142
Outside Bangladesh 465,039,040 688,970,646
23,302,722,071 8,447,162,788
Money at call on short notice 6.00 - 200,000,000
Investments 7.00.a
Government 29,206,394,719 40,008,575,490
Others 2,501,728,258 1,328,008,306
31,708,122,977 41,336,583,796
Loans and Advances 8.00

Loans, cash credits, overdrafts etc. 80,680,801,797 73,099,733,543
Bills purchased and discounted 2,630,286,603 2,707,154,929
83,311,088,400 75,806,888,472
Fixed assets including land, building,
furniture and fixtures 9.00.a 3,286,192,501 3,355,551,865
Other Assets 10.00.a 7,875,939,322 9,559,632,178
Non Banking Assets 10.00.b 68,941,814 70,912,083
TOTAL ASSETS 162,322,146,577 151,232,385,378
Liabilities And Capital/Shareholders' Equity
Liabilities
Borrowings from other Banks,
Financial Institutions and Agents 11.00 988,412,867 1,389,304,955
Deposits and other accounts 12.00.a
Current and other accounts 55,423,536,020 48,971,603,240
Bills payable 3,800,342,237 2,417,231,139
Savings bank deposits 38,559,472,392 32,606,700,358
Fixed deposits 34,551,324,972 35,986,579,093
Other deposits 2,398,602,622 2,106,948,073
134,733,278,243 122,089,061,903
Other Liabilities 13.00.a 13,190,907,623 14,552,029,230
TOTAL LIABILITIES 148,912,598,733 138,030,396,088
CAPITAL/SHAREHOLDERS' EQUITY
Paid up capital 14.02 4,000,803,370 4,000,803,370
Statutory reserve 15.00 4,330,837,039 4,330,837,039
Other reserves 16.00 3,424,854,257 3,560,849,046
Surplus in profit and loss account 17.00.a 1,653,013,655 1,309,461,090
TOTAL CAPITAL/SHAREHOLDERS' EQUITY 13,409,508,321 13,201,950,545
Non controlling interest 39,523 38,745
TOTAL LIABILITIES AND CAPITAL/SHAREHOLDERS' EQUITY 162,322,146,577 151,232,385,378

CONSOLIDATED BALANCE SHEET
Amount in Taka
Notes
2016 2015
OFF BALANCE SHEET ITEMS

Contingent Liabilities 18.00
Acceptances & Endorsements 18.01 3,571,900,263 3,607,693,138
Letters of guarantee 18.02 3,014,053,425 3,098,928,334
Irrevocable letters of credit 18.03 9,253,553,996 10,454,486,262
Bills for collection 18.04 5,403,606,847 5,333,365,624
Other contingent liabilities - -
21,243,114,531 22,494,473,358
Other Commitments
Documentary credits and short term
trade-related transactions - -
Forward assets purchased and forward
deposits placed - -
Undrawn note issuance and revolving
underwriting facilities - -
Undrawn formal standby facilities,
credit lines and other commitments - -
- -
Total Off Balance Sheet Items

including Contingent Liabilities & Other Commitments 21,243,114,531 22,494,473,358
Accompanying notes 1 to 44 form an integral part of these financial statements.
(Mohammed Rabiul Hossain) (Abul Barq Alvi) (Dr. Md. Rezaul Karim Mazumder) (Faruque Alamgir)
Managing Director Director Director Director
Signed in terms of our separate report of even date.
Dated: Dhaka Shafiq Basak & Co. Rahman Mostafa Alam & Co.

CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2016
Amount in Taka
Notes
2016 2015
OPERATING INCOME
Interest Income 19.01.a 9,308,710,642 9,380,957,653
Interest paid on deposits and borrowings etc. 20.00.a 5,838,523,400 6,471,137,578
Net Interest Income 3,470,187,242 2,909,820,075
Investment Income 21.00.a 4,095,371,135 4,679,945,781
Commission, Exchange and Brokerage 22.00.a 776,283,236 740,820,440
Other Operating Income 23.00.a 564,720,413 528,786,970
Total operating income 8,906,562,026 8,859,373,266
OPERATING EXPENSES
Salary and allowances 24.00.a 4,270,352,918 3,285,006,064
Rent, taxes, insurance, electricity etc. 25.00.a 426,456,457 407,792,734
Legal expenses 26.00.a 22,984,646 23,224,538
Postage, stamp, telecommunication etc. 27.00.a 96,805,072 109,271,399
Stationery, printing, advertisements etc. 28.00.a 99,232,770 101,251,828
Managing Director's salary & allowances and fees 29.00 13,584,887 14,843,180
Directors' fees 30.00.a 4,038,000 2,598,000
Auditors' fees 31.00.a 525,000 525,000
Charges on Loan losses 799,658,345 305,587,442
Repair, maintenance and depreciation
of Bank's property 32.00.a 343,988,797 340,540,601
Other expenses 33.00.a 303,333,521 277,752,139
Total operating expenses 6,380,960,413 4,868,392,925
Profit before provision 2,525,601,613 3,990,980,341
Provision
Provision for loans & advances & off balance sheet
exposures 34.00 480,000,000 1,450,000,000
Provision for diminution in value of investments 3,761,053 -
Provision for others 35.00 - 6,084,750
483,761,053 1,456,084,750
Profit before tax 2,041,840,560 2,534,895,591
Provision for Taxation
Current tax 13.01.01.a 511,679,410 1,109,179,952
Deferred tax 13.02.1 (13,552,867) (86,261,435)
498,126,543 1,022,918,517
Profit after taxation 1,543,714,017 1,511,977,074
Non controlling interest 778 547
Profit after taxation without non controlling interest 1,543,713,239 1,511,976,527
Retained earning brought forward 17.00.a.1 109,300,416 97,484,563
Profit available for appropriation 1,653,013,655 1,609,461,090
Appropriations
Statutory reserve 15.00 - 300,000,000
General reserve - -
- 300,000,000
Retained surplus 17.00.a 1,653,013,655 1,309,461,090
Earnings Per Share (EPS) 40.00.a 3.86 3.78

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER, 2016
Amount in Taka
Notes
2016 2015
A. Cash flows from operating activities
Interest receipts in cash 13,200,765,640 14,219,256,441
Interest payments (6,066,523,489) (6,681,577,348)
Dividend receipts 95,889,799 81,249,554
Fees and commission receipts in cash 776,283,236 740,938,635
Cash payments to employees (4,213,915,381) (3,269,849,244)
Cash payments to suppliers (577,964,063) (708,772,746)
Income tax paid (581,866,207) (773,159,910)
Receipts from other operating activities 561,930,155 528,931,934
Payments for other operating activities 36.00.a (1,131,572,282) (605,544,541)
Operating cash flow before changes in operating 2,063,027,408 3,531,472,775
assets and liabilities
Increase/(decrease) in operating assets and liabilities
Purchase/sale of trading securities 3,443,382,998 7,462,162,239
Loans and advances to other banks 200,000,000 260,000,000
Loans and advances to customers (7,805,579,310) (2,846,787,527)
Other assets 37.00.a 182,277,535 (466,707,762)
Deposits from other Banks 114,477,986 90,564,475
Deposits from customers 12,757,668,995 8,552,452,475
Other liabilities account of customers - -
Other liabilities 38.00.a (1,093,953,969) (440,003,675)
7,798,274,235 12,611,680,225
Net cash received from/(used in) operating activities 9,861,301,643 16,143,153,000
B. Cash flows from investing activities
Proceeds from sale/payments for purchase of securities 6,185,077,821 (6,010,831,538)
Purchase of property, plants and equipments (175,656,366) (253,285,741)
Sale of property, plants and equipments 3,911,748 2,410,135
Net cash received from/(used in) investing activities 6,013,333,203 (6,261,707,144)
C. Cash flows from financing activities
Receipts from issue of loan capital and debt securities - -
Payments for redemption of loan capital and debt securities - -
Receipts from issue of ordinary share - -
Dividend paid (705,590,267) (692,301,317)
Net cash received from/(used in) financing activities (705,590,267) (692,301,317)
D. Net Increase/ (decrease) in cash and cash equivalents (A+B+C) 15,169,044,579 9,189,144,539
E. Effects of exchange rate changes on cash and cash equivalents - -
F. Opening cash and cash equivalents 20,902,816,984 11,713,672,445
G. Closing cash and cash equivalents (D+E+F) 39.00.a 36,071,861,563 20,902,816,984
Closing Cash and cash equivalents -
Cash in hand (including foreign currencies ) 2,527,838,471 2,563,655,628
Bal. with Bangladesh Bank & its agent Banks (including foreign currencies) 10,241,301,021 9,891,998,568
Balance with other banks and financial institutions 23,302,722,071 8,447,162,788
36,071,861,563 20,902,816,984

BALANCE SHEET
Amount in Taka
Notes
2016 2015
PROPERTY AND ASSETS
Cash 4.00
Balance with Bangladesh Bank and its
agent Bank(s) (including foreign currencies) 10,241,301,021 9,891,998,568
12,769,127,872 12,455,630,541
Balance with other Banks and
Financial institutions 5.00
In Bangladesh 22,803,696,295 7,755,690,000
23,268,735,335 8,444,660,646
Money at call on short notice 6.00 - 200,000,000
Investments 7.00
Government 29,206,394,719 40,008,575,490
Others 2,407,892,306 1,328,008,306
31,614,287,025 41,336,583,796
Loans, cash credits, overdrafts etc. 80,680,801,797 73,099,733,543
Bills purchased and discounted 2,630,286,603 2,707,154,929
83,311,088,400 75,806,888,472
Fixed assets including land, building,
furniture and fixtures 9.00 3,276,751,569 3,345,514,218
Other Assets 10.00 8,108,733,478 9,816,104,565
Non Banking Assets 10.b 68,941,814 70,912,083
TOTAL ASSETS 162,417,665,493 151,476,294,321
LIABILITIES AND CAPITAL/SHAREHOLDERS' EQUITY

LIABILITIES
Financial institutions and Agents 11.00 988,412,867 1,389,304,955
Deposits and other accounts 12.00
Current and other accounts 55,432,900,291 49,052,700,747
Bills payable 3,800,342,237 2,417,231,139
Savings bank deposits 38,570,246,693 32,607,069,120
Fixed deposits 34,749,521,874 36,223,695,876
Other deposits 2,398,602,622 2,106,948,073
134,951,613,717 122,407,644,955
Other Liabilities 13.00 13,126,832,591 14,523,130,047
TOTAL LIABILITIES 149,066,859,175 138,320,079,957
CAPITAL/SHAREHOLDERS' EQUITY
Paid up capital 14.02 4,000,803,370 4,000,803,370
Statutory reserve 15.00 4,330,837,039 4,330,837,039
Other reserves 16.00 3,424,854,257 3,560,849,046
Surplus in profit and loss account 17.00 1,594,311,652 1,263,724,909
TOTAL CAPITAL/SHAREHOLDERS' EQUITY 13,350,806,318 13,156,214,364

TOTAL LIABILITIES AND CAPITAL/SHARE HOLDERS' EQUITY 162,417,665,493 151,476,294,321

BALANCE SHEET
Amount in Taka
Notes
2016 2015
PROPERTY AND ASSETS

Contingent Liabilities
Acceptances & Endorsements 18.01 3,571,900,263 3,607,693,138
Letters of guarantee 18.02 3,014,053,425 3,098,928,334
Irrevocable letters of credit 18.03 9,253,553,996 10,454,486,262
Bills for collection 18.04 5,403,606,847 5,333,365,624
Other contingent liabilities - -
18.00 21,243,114,531 22,494,473,358
Other Commitments
trade-related transactions - -
deposits placed - -
underwriting facilities - -
credit lines and other commitments - -
- -
Total Off Balance Sheet Items

Including Contingent Liabilities & Other Commitments 21,243,114,531 22,494,473,358

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2016
Amount in Taka
Notes
2016 2015
OPERATING INCOME
Interest Income 19.01 9,307,693,237 9,380,904,462
Interest paid on deposits and borrowings etc. 20.00 5,849,588,270 6,493,048,808
Net Interest Income 3,458,104,967 2,887,855,654
Investment Income 21.00 4,077,080,338 4,679,945,781
Commission, Exchange and Brokerage 22.00 772,266,054 740,202,499
Other Operating Income 23.00 567,259,558 531,287,143
OPERATING EXPENSES
Salary and allowances 24.00 4,265,168,864 3,281,247,675
Rent, taxes, insurance, electricity etc. 25.00 426,039,025 407,430,721
Legal expenses 26.00 22,984,646 23,181,538
Postage, stamp, telecommunication etc. 27.00 96,556,884 109,017,472
Stationery, printing, advertisements etc. 28.00 99,159,549 101,035,616
Managing Director's salary & allowances and fees 29.00 13,584,887 14,843,180
Directors' fees 30.00 3,944,000 2,518,000
Auditors' fees 31.00 500,000 500,000
Charges on Loan losses 799,658,345 305,587,442
Repair, maintenance and depreciation
of Bank's property 32.00 342,165,460 339,836,895
Other expenses 33.00 302,105,977 277,387,073
Total operating expenses 6,371,867,637 4,862,585,612
Profit before Provision 2,502,843,280 3,976,705,465
Provision
Provision for loans & advances & off balance sheet exposures 34.00 480,000,000 1,450,000,000
Provision for others 35.00 - 6,084,750
480,000,000 1,456,084,750
Profit before tax 2,022,843,280 2,520,620,715
Provision for Taxation
Provision for tax made during the year 13.01.01 505,648,730 1,103,999,481
Deferred tax 13.02.01 (13,552,867) (86,261,435)
492,095,863 1,017,738,046
Retained earning brought forward 17.01 63,564,235 60,842,240
Profit available for appropriations 1,594,311,652 1,563,724,909
Appropriations
Statutory reserve 15.00 - 300,000,000
General reserve - -
- 300,000,000
Retained surplus 17.00 1,594,311,652 1,263,724,909
Earnings Per Share (EPS) 40.00 3.83 3.76

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER, 2016
Amount in Taka
Notes
2016 2015
Interest receipts in cash 13,190,071,680 14,219,203,250
Interest payments (6,079,062,355) (6,704,449,903)
Dividend receipts 87,695,558 81,249,554
Fees and commission receipts in cash 772,266,054 740,320,696
Cash payments to employees (4,208,731,327) (3,266,090,855)
Cash payments to suppliers (577,223,600) (707,816,723)
Income tax paid (575,467,888) (766,635,215)
Receipts from other operating activities 564,469,300 530,973,488
Payments for other operating activities 36.00 (1,130,314,059) (604,572,856)
Operating cash flow before changes in operating assets and liabilities 2,043,703,363 3,522,181,436
Increase/(decrease) in operating assets and liabilities
Purchase/sale of trading securities 3,443,382,998 7,462,162,239
Loans and advances to other banks 200,000,000 260,000,000
Loans and advances to customers (7,805,579,310) (2,846,787,527)
Other assets 37.00 199,137,444 (465,866,211)
Deposits from other Banks 114,477,986 90,564,475
Deposits from customers 12,658,895,415 8,550,031,506
Other liabilities account of customers - -
Other liabilities 38.00 (1,119,224,765) (441,765,961)
7,691,089,768 12,608,338,521
Net cash received from/(used in) operating activities 9,734,793,131 16,130,519,957
Proceeds from sale/payments for purchase of securities 6,278,913,774 (6,010,831,538)
Purchase of property, plants and equipments (174,456,366) (242,668,261)
Sale of property, plants and equipments 3,911,748 2,410,136
Net cash received from/(used in) investing activities 6,108,369,156 (6,251,089,663)
Receipts from issue of loan capital and debt securities - -
Payments for redemption of loan capital and debt securities - -
Receipts from issue of ordinary share - -
Dividend paid (705,590,267) (692,301,317)
Net cash received from/(used in) financing activities (705,590,267) (692,301,317)
D. Net Increase/(decrease) in cash & cash equivalents (A+B+C) 15,137,572,020 9,187,128,977
E. Effects of exchange rate changes on cash and cash equivalents - -
F. Opening cash and cash equivalents 20,900,291,187 11,713,162,210
G. Closing cash and cash equivalents (D+E+F) 39.00 36,037,863,207 20,900,291,187
Closing Cash and cash equivalents
Cash in hand (including foreign currencies ) 2,527,826,851 2,563,631,973
Bal. with Bangladesh Bank & its agent Bank(s) (including foreign currencies) 10,241,301,021 9,891,998,568
Balance with other banks and financial institutions 23,268,735,335 8,444,660,646
36,037,863,207 20,900,291,187

UTTARA BANK LIMITED AND ITS SUBSIDIARIES
Notes to the Financial Statements as at and for the year ended 31 December 2016
1.00 Legal status and Nature of the Bank
Uttara Bank Limited (The Bank) had been a nationalized bank in the name of Uttara
Bank under the Bangladesh Bank (Nationalization) order 1972, formerly known as the
Eastern Banking Corporation. The Bank started functioning on and from 28 January
1965. Consequent upon the amendment of Bangladesh Bank (Nationalization) Order
1972, the Uttara Bank was converted into Uttara Bank Limited as a public Limited
company in the year 1983. The converted Uttara Bank Limited was incorporated as a
banking company on 29 June 1983 and obtained business commencement certificate on
21 August 1983.The Bank floated its shares in the year 1984. The Bank is listed in the
Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited as a publicly
quoted company for trading of its shares.
The Registered Office of the Bank is located at 47, Shahid Bir Uttam Asfaqus Samad
Sarak (Former 90, Motijheel Commercial Area), Motijheel, Dhaka- 1000. It has 229
branches all over Bangladesh through which it carries out all its banking activities.
1.01 Principal activities

The principal activities of the Bank are to provide all kinds of commercial banking
services to its customers through its branches in Bangladesh.
1.02 Correspondent banking
The focus of International Division with its expertise caters mainly to the Banking needs
related to import and export affairs. The department establishes correspondent relationships
with the foreign banks in consultation with the respective senior management.
1.03 UB capital and Investment Limited

Uttara Bank Limited has formed a subsidiary in the name and style “UB Capital and
Investment Limited” and was incorporated as a public limited company with the
Registrar of Joint Stock Companies and Firms, Dhaka Bangladesh on 28 September 2010
under the Companies Act, 1994 bearing registration no C- 87220/10.
The main activities of the company are to act as a full fledged merchant banker and
portfolio manager to provide services like underwriting public issue of shares, buy and
sell of shares/securities on behalf of clients under portfolio management operation etc.
The company is also authorized to buy, sell, hold or otherwise acquire or invest the
capital of the company in shares, stock and fixed income securities.
The Company will commence its operation after obtaining license from the Bangladesh
Securities and Exchange Commission. The Registered office of the company is at 47,
Shahid Bir Uttam Asfaqus Samad Sarak, Motijheel, Dhaka-1000.

1.04 Uttara Bank Securities Limited
Uttara Bank Securities Limited, a subsidiary company of Uttara Bank Limited, was
incorporated on 13 June 2013 as a Public Limited company with the Registrar of Joint
Stock Companies and Firms Dhaka, Bangladesh under the Companies Act, 1994 bearing
registration no.C-109691/13.The main objective of the company is to carry on business of
stock brokers/dealers in relation to shares and securities dealings and other services as
mentioned in the Memorandum and Articles of Association of the company. The
Registered office of the company is at 47, Shahid Bir Uttam Asfaqus Samad Sarak,
Motijheel, Dhaka-1000.
1.05 Off-shore Banking Unit (OBU)

The Off-shore Banking Unit (OBU) of the Bank is the separate Unit governed by the
applicable rules & regulations and guidelines of Bangladesh Bank. The Bank obtained the
permission for conducting the operations of OBU from Bangladesh Bank on 23 March
2015. The Bank started the operation of OBU on 06 July 2015.The number of OBU was
(1) one as at 31st December 2016 situated at the Bank’s Head Office.
The principal activities of the OBUs are to provide commercial banking services through
its unit within the rules & regulations and guidelines of Bangladesh Bank applicable for
the off-shore Banking Unit.
2.00 Internal audit, internal control and risk management

The Bank Company Act, 1991 and the Bangladesh Bank Regulations require the
Management to ensure effective internal audit, internal control and risk management
functions of the Bank. The Management is also required to make a self-assessment on the
effectiveness of anti-fraud internal controls and report to Bangladesh Bank on instances
of fraud and forgeries.
Bangladesh Bank Department of Off-site Supervision (DOS) has issued Circular No. 02
dated 15 February 2012 on Risk Management Guidelines for Banks and instructed all
scheduled banks operating in Bangladesh to follow this Guidelines for managing various
risks which have been compiled by the Bank.
The risk of the Bank is possibility of losses, financial or otherwise and covers six core
risk areas of banking business namely, a) Credit Risks b) Asset and Liability/Balance
Sheet Risks c) Foreign Exchange Risks d) Money Laundering Risks e) Internal Control
and Compliance Risks and f) Information and Communication Technology Risks.
The main objective of the risk management is that in carrying out business the Bank
undertakes well calculated business risks while safeguarding its capital, assets and
profitability from risks.
In recognition of the importance of an effective risk management system, the Bank has
taken steps to implement the guidelines of Bangladesh Bank as under:

2.01 Credit Risk
Credit Risk is the due to a borrower’s lack of ability to meet its financial obligations. Credit
Risk Management has been introduced in the Bank in line with the directives received from
the Bangladesh Bank. It is one of the major risks faced by the Bank. The Bank has segregated
duties of the officers/executives involved in Credit related activities. A separate Credit
Division has been formed at Head Office which is entrusted with the duties of maintaining
effective relationship with the customers, marketing of credit products, exploring new
business opportunities etc. Moreover, Marketing, Credit Approval, Credit Administration &
Monitoring, Recovery and Suit functions have been segregated. For these purposes separate
Departments/Cells have been formed within the Credit Division at Head Office. These are (a)
Credit Approval Department (b) Credit Administration & Monitoring Department (c) Credit
Recovery Department (d) Lease Finance Department (e) SME Department (f) Sustainable
Finance Department (g) Agri Cell and (h) CIB Cell. Credit Division is entrusted with the
duties of maintaining assets quality, assessing risk in lending to a particular customer,
sanctioning credit, formulating policy/strategy for lending operation etc.
This Bank being one of the pioneer banks in the private sector has introduced lending policies
based on its long experiences and in line with guidelines given by Bangladesh Bank to
provide loans and advances to commercial and industrial enterprises and also to individuals.
Bank is following all circulars including core risk guidelines related to investment risk
management to mitigate the risk to an acceptable level.
2.02 Market Risk

Market Risk is the possibility of loss arising from changes in the value of a financial
instrument as a result of changes in market variables such as interest rates, exchange
rates, equity and commodity prices.
2.03 Foreign Exchange Risk

Foreign exchange risk is the potential risk which can bring change in earnings arising due
to change in market prices. Treasury Division independently conducts the transactions and
the Back Office of Treasury Division is responsible for verification and settlement of the
deals and passing of the entries in books of accounts. All Nostro accounts are reconciled
immediately and outstanding entries are reviewed by the management for settlement.
Bank is following all circulars including core risk guidelines related to Foreign Exchange
risk management to mitigate the risk to an acceptable level.
2.04 Asset liability Management Risk

The Asset Liability Committee (ALCO) of the Bank monitors Balance sheet risk and
liquidity risks of the Bank. Managing the asset liability is the most important responsibility of
the Bank as it runs the risk for not only of the bank, but also of the thousands of depositors
who put money into it. The primary objective of the ALCO is to monitor and avert significant
volatility in Net Interest Income (NII), investment value and exchange earnings.
Bank is following all circulars including core risk guidelines related to ALM risk
management to mitigate the risk to an acceptable level.

2.05 Money Laundering Risk
Money laundering risk is the loss of reputation and expenses incurred as penalty for being
negligent in prevention of money laundering. For mitigating the risks the Bank has a
designated Chief Compliance Officer at Head Office and Compliance Officer at
branches, who independently review the transactions of the accounts to verify suspicious
transactions. Manuals for prevention of money laundering have been established and
transaction profile has been introduced.
Bank is following all circulars including core risk guidelines related to Anti-Money
Laundering Risk Management to mitigate the risk to an acceptable level.
2.06 Information and Communication Technology Security Risk Management

IT management deals with IT policy documentation, internal IT audit, training and insurance.
IT operation management covers the dynamics of technology operation management
including change management, asset management and operating environment procedures
management. The objective is to achieve the highest levels of technology service quality by
minimum operational risk. Physical security involves providing environmental safeguards as
well as controlling physical access to equipment and data.
The Bank follows the guidelines stated in BRPD Circular No.14 dated 23 October 2005
regarding “Guideline on Information and Communication Technology for Scheduled Banks”.
2.07 Internal Control and Compliance Risk

Internal control and compliance is considered as an eye of an organization. It is a mirror
of operations and keeps record of the same. The primary objects of internal control
system are to help the Bank to perform in a better height through the use of its resources
& under the guidance’s of internal control system, bank identifies its weakness and takes
appropriate measures to overcome the same. Uttara Bank Limited strictly follows the
Bangladesh Bank Guidelines in line with Internal Control & Compliance of the Bank.
2.08 Operational Risk

Operational risk may arise from error and fraud due to lack of internal control and
compliance. Management through internal control and compliance division controls
operational procedure of the Bank.
2.09 Internal Audit

Being an integral part of daily activities of the Bank, Internal Control and Compliance
Division with three departments namely: Compliance, Monitoring and Audit &
Inspection are working as ongoing process to ensure smooth operation of the Bank.
Compliance Department is functioning to ensure compliance with statutory & regulatory
requirement. Monitoring department is responsible for operational performance of
Branches and Head Office Divisions by minimizing/avoiding risk factors.

Internal Audit Activities:
• To review and approve “Internal Audit Charter”;
• To guide and approve “Internal Audit Plan”;
• To guide and review “Internal Audit Process and Procedure”;
• To guide bank management body for ensuring compliance on audit
recommendation(s) and scope of development;
• To review compliance status of audit recommendation;
• To review annual assessment of the performance of audit and inspection activity;
• To recommend audit findings to be placed to the Board of Directors.
As an internal watch dog of the Bank the Audit & Inspection Department is conducting
Audit & Inspection to identify, measure, control and mitigate risk factors at the
Branches/Division.
No materially untrue statement is identified that might be misleading the financial statement
2.10 Fraud and Forgeries

Internal Control and Compliance Division conducts audit at the branches with the existing
manpower to minimize irregularities/lapses to prevent fraud and forgeries and to avoid
risks at the operational level. Bank fraud is the use of potentially illegal means to obtain
money, assets, or other property owned or held by a financial institution, or to obtain
money from depositors by fraudulently posing as a bank or other financial institution.
To mitigate the fraud the Bank has taken the following initiatives:
Reviewing the corrective measures taken by the management with regard to
reports relating to fraud-forgery, deficiencies in internal control and external
auditors and inspectors of the regulatory authority and inform the Board on a
regular basis;
Effort made for improving the compliance culture and introducing stricter
controls to eliminate fraud exposures.
Board Audit Committee reviews fraud and forgery report and advises
Management on corrective measure and preventive action as applicable.
The Audit Committee also advised management on potential threats of fraud and
forgery activity.
No transactions entered into by the company during the year which are fraudulent, illegal
or in violation of the company’s code of conduct and there was no administrative error
and exception or anything detrimental committed by employees of the bank.

3.00 Summary of Significant Accounting Policies and Basis for Preparation of Financial
Statements
3.01 Statement of Compliance
The financial statements of the Bank are prepared in accordance with Bangladesh
Financial Reporting Standards (BFRSs) and the requirements of the Bank Companies Act
1991, the rules and regulations issued by Bangladesh Bank, the Companies Act 1994,
the Securities and Exchange Rules 1987. In case any requirement of the Bank Companies
Act 1991, and provisions and circulars issued by Bangladesh Bank differ with those of
BFRSs, the requirements of the Bank Companies Act 1991, and provisions and circulars
issued by Bangladesh Bank shall prevail. Material departures from the requirements of
BFRSs are as follows:
i) Investment in Shares and Securities

BFRS: As per requirements of BAS 39 investment in shares and securities generally falls
either under “at fair value through profit and loss account” or under “available for sale”
where any change in the fair value (as measured in accordance with BFRS 13) at the
year-end is taken to profit and loss account or revaluation reserve respectively.
Bangladesh Bank: As per BRPD circular no. 14 dated 25 June 2003 investments in quoted
shares and unquoted shares are revalued at the year end at market price and as per book value
of last audited balance sheet respectively. Provision should be made for any loss arising from
diminution in value of investment otherwise investments are recognised at cost.
ii) Revaluation Gains/Losses on Government Securities

BFRS: As per requirement of BAS 39 where securities will fall under the category of
Held for Trading (HFT), any change in the fair value of held for trading assets is
recognised through profit and loss account. Securities designated as Held to Maturity
(HTM) are measured at amortised cost method and interest income is recognised through
the profit and loss account.
Bangladesh Bank: HFT securities are revalued on the basis of mark to market and at
year end any gains on revaluation of securities which have not matured as at the balance
sheet date are recognised in other reserves as a part of equity and any losses on
revaluation of securities which have not matured as at the balance sheet date are charged
in the profit and loss account. Interest on HFT securities including amortisation of
discount are recognised in the profit and loss account. HTM securities which have not
matured as at the balance sheet date are amortised at the year end and gains or losses on
amortisation are recognised in other reserve as a part of equity.
iii) Provision on Loans and Advances

BFRS: As per BAS 39 an entity should start the impairment assessment by considering
whether objective evidence of impairment exists for financial assets that are individually
significant. For financial assets that are not individually significant, the assessment can be
performed on an individual or collective (portfolio) basis.

Bangladesh Bank: As per BRPD circular No.14 (23 September 2012), BRPD circular
No. 19 (27 December 2012), BRPD circular No. 05 (29 May 2013), BRPD circular No.
16 (18 November 2014) and BRPD circular No. 08 (02 August 2015) a general provision
at 0.25% to 5% under different categories of unclassified investments (good and special
mentioned accounts) has to be maintained regardless of objective evidence of
impairment. Also provision for sub-standard loans, doubtful loans and bad losses has to
be provided at 5% to 20%, 50% and 100% respectively for loans and advances depending
on the duration of overdue. Again as per BRPD circular no. 10 dated 18 September 2007
and BRPD circular no. 14 dated 23 September 2012, a general provision at 1% is
required to be provided for all off-balance sheet exposures. Such provision policies are
not specifically in line with those prescribed by BAS 39.
iv) Recognition of Interest in Suspense

BFRS: Loans and advances to customers are generally classified as 'loans and
receivables' as per BAS 39 and interest income is recognised through effective interest
rate method over the term of the loan. Once a loan is impaired, interest income is
recognised in profit and loss account on the same basis based on revised carrying amount.
Bangladesh Bank: As per BRPD circular no. 14 dated 23 September 2012, once a loan
is classified, interest on such loan are not allowed to be recognised as income, rather the
corresponding amount needs to be credited to an interest suspense account, which is
presented as liability in the balance sheet.
v) Other Comprehensive Income

BFRS: As per BAS 1 Other Comprehensive Income (OCI) is a component of financial
statements or the elements of OCI are to be included in a single Other Comprehensive
Income statement.
Bangladesh Bank: Bangladesh Bank has issued templates for financial statements which
will strictly be followed by all banks. The templates of financial statements issued by
Bangladesh Bank do not include Other Comprehensive Income nor are the elements of
Other Comprehensive Income allowed to be included in a single Other Comprehensive
Income (OCI) Statement. As such the Bank does not prepare the other comprehensive
income statement. However, elements of OCI, if any, are shown in the statements of
changes in equity.
vi) Financial Instruments – Presentation and Disclosure

In several cases Bangladesh Bank guidelines categorise, recognise, measure and present
financial instruments differently from those prescribed in BAS 39. As such full
disclosure and presentation requirements of BFRS 7 and BAS 32 cannot be made in the
financial statements.
vii) Financial Guarantees

BFRS: As per BAS 39, financial guarantees are contracts that require an entity to make
specified payments to reimburse the holder for a loss it incurs because a specified debtor
fails to make payment when due in accordance with the terms of a debt instrument.
Financial guarantee liabilities are recognised initially at their fair value, and the initial fair

value is amortised over the life of the financial guarantee. The financial guarantee
liability is subsequently carried at the higher of this amortised amount and the present
value of any expected payment when a payment under the guarantee has become
probable. Financial guarantees are included within other liabilities.
Bangladesh Bank: As per BRPD 14, financial guarantees such as letter of credit, letter
of guarantee, acceptance and endorsement will be treated as off-balance sheet items. No
liability is recognised for the guarantee except the cash margin.
viii) Cash and Cash Equivalent

BFRS: Cash and cash equivalent items should be reported as cash item as per BAS 7.
Bangladesh Bank: Some cash and cash equivalent items such as ‘money at call and on
short notice’, treasury bills, Bangladesh Bank bills and prize bond are not shown as cash
and cash equivalents. Money at call and on short notice presented on the face of the
balance sheet, and treasury bills, prize bonds are shown in investments.
ix) Non-Banking Asset

BFRS: No indication of Non-banking asset is found in any BFRS.
Bangladesh Bank: As per BRPD 14, there must exist a face item named Non-banking asset.
x) Cash Flow Statement

BFRS: The Cash flow statement can be prepared using either the direct method or the
indirect method. The presentation is selected to present these cash flows in a manner that is
most appropriate for the business or industry. The method selected is applied consistently.
Bangladesh Bank: As per BRPD 14, cash flow is the mixture of direct and indirect methods.
xi) Balance with Bangladesh Bank: (Cash Reserve Requirement)

BFRS: Balance with Bangladesh Bank should be treated as other asset as it is not
available for use in day to day operations as per BAS 7.
Bangladesh Bank: Balance with Bangladesh Bank is treated as cash and cash equivalents.
xii) Presentation of Intangible Asset

BFRS: An intangible asset must be identified and recognised, and the disclosure must be
given as per BAS 38.
Bangladesh Bank: There is no regulation for intangible assets in BRPD 14.
xiii) Off-Balance Sheet Items

BFRS: There is no concept of off-balance sheet items in any BFRS; hence there is no
requirement for disclosure of off-balance sheet items on the face of the balance sheet.
Bangladesh Bank: As per BRPD 14, off balance sheet items (e.g. Letter of credit, Letter
of guarantee etc.) must be disclosed separately on the face of the balance sheet.
xiv) Provision netted of against Loans and Advances

BFRS: Loans and Advances should be presented in net of provision.
Bangladesh Bank: As per BRPD 14, provision on Loans and Advances is presented
separately as liability and can not be netted off against Loans and Advances.

3.02 Presentation of Financial Statements
Consolidated and separate financial statements of the Bank comprise Balances Sheet,
Profit And Loss Account, Cash Flow Statement and Statement of Changes in Equity,
Liquidity Statement and relevant notes and disclosures. The financial statements are
presented in compliance with the Bangladesh Accounting Standard–1 “Presentation of
financial statements” along with the guidelines, forms and formats provided by the
Bangladesh Bank through BRPD Circular No.14 dated 25 June 2003.
3.03 Basis of Consolidation

The consolidated financial statements include the financial statements of Uttara Bank
Limited, the Off Shore Banking Unit and its subsidiaries UB capital and Investment
Limited, Uttara Bank Securities Limited made up to the end of the financial year. The
consolidated financial statements have been prepared in accordance with Bangladesh
Financial Reporting Standard (BFRS 10): Consolidated Financial Statements. The
consolidated financial statements are prepared to a common financial year ending
December 31, each year.
3.03.1 Subsidiaries
UB Capital and Investment Limited and Uttara Bank Securities Limited are the
Subsidiaries of the Bank. 99.994% shares of the subsidiaries are owned by the Bank.
A subsidiary is an enterprise which is controlled by the Bank. Control exists when the
Bank has the power, directly or indirectly, to govern the financial and operating policies
of an enterprise from the date of commencement of control until the date that control
ceases. The financial statements of the subsidiaries are included in the consolidated
financial statements from the date that control effectively commences until the date that
the control effectively ceases.
3.03.2 Transactions Eliminated and Judgments

All intra-group transactions, balances, income and expenses are eliminated on
consolidation. Profit and losses resulting from transactions between Groups are also
eliminated on consolidation.
3.04 Going Concern

The accompanying financial statements have been prepared on a going concern basis
which contemplates the realization of assets and the satisfaction of liabilities in the
normal course of business.
3.05 Use of Estimates and Judgments

The preparation of financial statements requires management to make judgments,
estimates and assumptions as per BAS-37 that affect the application of accounting

policies and the reported amounts of assets, liabilities, income and expenses. Actual
results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognized in the period in which the estimate is revised and in
any future periods affected.
3.05.1 Materiality of Financial Statements

Each material item as considered by management significant has been presented
separately in the financial statements wherever applicable.
3.06 Reporting Period

These financial statements cover one calendar year from 1 January 2016 to 31 December 2016.
3.07 Assets and Basis of their Valuation

3.07.1 Cash and Cash Equivalents
Cash and cash equivalents include notes and coins on hand held with Bangladesh Bank
and highly liquid financial assets which are subject to insignificant risk of changes in
their value, and are used by the Bank management for its short term commitments.
3.07.2 Investment
Investments have been initially recognized at cost, including acquisition charges
associated with the investment. Premiums have been amortized and discount accredited,
using the effective or historical yield method. Government Treasury Bills and Bonds
(categorized as HFT or/and HTM) are accounted for as per Bangladesh Bank DOS
circular letter no.05 dated 26 May 2008 and DOS circular no. 05 dated 28 January 2009.
The valuation methods of investment used are:
Government Securities
Held to Maturity (HTM)
Investments which are intended to be held to maturity are classified as “Held to
Maturity”. These are measured at amortized cost at each year end by taking into account
any discount or premium in acquisition. Amortised amount of such premium are booked
into Profit and Loss Account or discount is booked to reserve until maturity/disposal.
Held for Trading (HFT)

Investment primarily held for selling or trading is classified in this category. After initial
recognition, investments are marked to market weekly. Decrease in the book value is
recognized in the Profit and Loss Account and any increase is transferred to revaluation
reserve account.

Value of investments has been enumerated as follows:
Measurement
Investment Initial
after Initial Recording of Changes
Class Recognition
Recognition
Treasury Bill/ Cost Market value Loss to profit and loss account (P & L),
Bond (HFT) gain to Revaluation Reserve.
Treasury Bill/ Cost Amortised value Increase in value to equity and decrease
Bond (HTM) in value to P & L.
Debenture Face value None None
Prize Bond Cost None None
Shares/Bond Cost Lower of cost or Any loss, charged in P & L. Unrealized
market value gain, not recognized in accounts.
Investment in Quoted Shares

These securities are bought and held primarily for the purpose of selling them in future or held
for dividend income. Realized gains or losses are recognized in the Profit and Loss Account.
Investment in Unquoted Shares

Investment in unlisted securities is reported at cost under cost method.
Investment in Subsidiaries
Investments in subsidiaries are accounted for under the cost method of accounting in the
Bank’s financial statements in accordance with the BFRS 10: Consolidated Financial
Statements and BFRS 3: Business Combination.
3.07.3 Loans and Advances and Provisions

Provision for loans and advances is made on the basis of periodical review by the
management and instructions contained in Bangladesh Bank BCD Circular No. 34, 20
and 12 of 16-11-1989, 27-12-1994 and 04-09-1995 respectively and BRPD Circular No.
16, 9, 2, 9, 17,18,14,19,5,16 and 08 of 06-12-1998, 14-05-2001, 15.03.2005, 25.08.2005,
06.12.2005, 11.12.2005, 23.09.2012, 27.12.2012, 29.05.2013, 18.11.2014 and 02.08.2015
respectively. A provision of Tk. 480,000,000.00 has been made during the year 2016
which has been found to be adequate.
The rate of provision is given below:

Particulars Short Consumer Financing Small & Loans All Other
L Term Agri. Other HF LP Medium to BHs/ Credits
o credit and than Enterprise MBs/
a Micro- HF& Financing SDs
credit
n LP
sUn- Standard 2.5% 5% 2% 2% 0.25% 2% 1%
Classified SMA 2.5% 5% 2% 2% 0.25% 2% 1%
Classified SS 5% 20% 20% 20% 20% 20% 20%
a
DF 5% 50% 50% 50% 50% 50% 50%
n B/L 100% 100% 100% 100% 100% 100% 100%
d
Loans and advances are written off to the extent that (i) there is no realistic prospect to

recovery (ii) against which suit cases have been filed for recovery of Bank’s dues as per
guidelines of Bangladesh Bank. However, write off will not reduce the claim against the
borrower, detailed records for all such write off accounts are maintained.
3.07.4 Stock of Stationery

Stock of stationery has been shown under other assets and is valued at cost.
3.07.5 Fixed Assets and Depreciation

(a) All fixed assets are stated at cost less accumulated depreciation as per BAS-16
“Property, Plant and Equipment”.
(b) Depreciation is charged for the year at the following annual rates on reducing
balance method on all fixed assets with the exception of Motor Vehicles and
Software on which straight-line method is applied. No depreciation is charged
on Land.
Particulars of Assets Rate of Depreciation
Land Nil
Building 2.50%
Furniture and Fixtures 10.00%
Office Appliance 20.00%
Motor vehicle (Straight line) 20.00%
Software (Straight line) 20.00 %
(c) Depreciation at applicable rates is charged on additions to fixed assets from the
month of acquisition of the asset (full month).
(d) Upon sale or retirement of any item of fixed assets, depreciation is charged up to
the month of disposal or retirement, the net book value is eliminated from
accounts and any resulting gain or loss is transferred to profit and loss account.
(e) Basis of revaluation of land and building
Revaluation of the land and building was done in 2010 by an independent valuer,
Jorip O Paridarshan Company Limited by taking into consideration of the
location, configuration, means of communication, size of land, mouza rate,
prevailing market rate, etc.
3.07.6 Leasing
Leases are classified as finance leases whenever ‘the terms of the lease transfer
substantially all the risk and rewards of ownership to the lessee as per BAS-17 “Lease”.
The Bank has finance lease under its credit portfolio. Amount disbursed to lessees under
finance lease are recorded as lease finance and shown along with loans and advances. At
present interest is charged on the leased amount on monthly basis.

3.07.7 Other Assets
Provision for other assets is made as per BRPD circular No. 14 of 25.06.2003
3.07.8 Non Banking Assets

The Bank has shown non-Banking assets, acquired by virtue of decree from Artha-Rin-
Adalat, at its market value as required by BRPD circular no.14 dated 25 June 2003.
3.08 Liabilities and Provisions

3.08.1 Share Capital
Ordinary shares are classified as equity when there is no contractual obligation to transfer
cash or other financial assets.
3.08.2 Statutory Reserve

Bank Companies Act, 1991 requires the Bank to transfer 20% of its current year profit
before tax to reserve until such reserve equals to Paid up capital.
3.08.3 Revaluation Reserve

When an asset’s carrying amount is increased as a result of a revaluation, the increase
amount should be credited directly to equity under the heading of revaluation
surplus/reserve as per BAS-16: Property, Plant and Equipment. The Bank revalued the
land and building which are absolutely owned by the Bank and the increased amount was
transferred to revaluation reserve.
3.08.4 Borrowings from other Banks, Financial Institutions and Agents:

Inter Bank and financial institution borrowings include interest bearing borrowings which
are brought to account at gross value of the outstanding as on 31 December 2016.
3.08.5 Deposits from Customers

Deposits include non-interest bearing deposits, savings deposits, term deposits etc. They
are brought to account at the gross value of the outstanding balance. Interest paid is
charged to the Profit & Loss account.
3.08.6 Provision for Taxation

3.08.6.1Current Tax
Provision for taxation has been made as per rates prescribed in Finance Act 2016 of the
Income Tax Ordinance, 1984 on the profit made by the bank after considering some of
the add backs of income and disallowances of expenditure as per income Tax laws in
compliance with BAS-12 “Income Taxes”.

3.08.6.2 Deferred Tax
As per provision of BAS 12: Income Taxes, deferred tax assets and deferred tax liabilities
shall be measured and shall be reflected the tax consequence of the entity at the balance
sheet date.
Deferred tax is recognized, using the liability method on temporary differences between
the carrying amount of assets and liabilities in the balance sheet and the amount
attributed to such assets and liabilities for tax purposes. Deferred tax liabilities are
generally recognized for all taxable temporary differences and deferred tax assets are
recognized to the extent it is probable that future taxable profits will be available
against which deductible temporary differences unused tax loss and unused tax credit
can be utilized. The tax rate (40%) prevailing at the balance sheet date is used to
determine deferred tax.
3.09 Non Controlling Interest

Non Controlling Interest is the equity in a subsidiary not attributable, directly or
indirectly, to parent. As per BFRS 10 “Consolidated Financial Statements”, Bank
presents Non Controlling Interest separately in financial statements.
Profit or Loss and each component of other shareholders equity are attributed to the
owners of the parent and to the Non Controlling Interest even if this result in the Non
Controlling Interest having a deficit balances.
3.10 Employees Benefit Obligation

(a) Provident Fund
Provident fund benefits are given to the staff of the bank in accordance with the locally
registered provident fund rules. The fund is approved and recognized by the National
Board of Revenue. All confirmed employees of the Bank are eligible to participate in the
Fund. It is operated by a separate Board of Trustees as per BAS-19 “Employee Benefits”.
(b) Gratuity Fund

Gratuity fund benefits are given to the staff of the Bank in accordance with the Approved
Gratuity Fund Rules. National Board of Revenue has approved the gratuity fund with
effect from May 2008. The fund is operated by a Board of Trustees consisting of 5 (five)
members. Employees are entitled to get gratuity benefits after completion of minimum 10
(Ten) years of service in the Company.
(c) Superannuation Fund

The Bank operates a Superannuation Fund Scheme, contribution in respect of which is
made on monthly basis covering all its eligible employees. The trust fund has been
established to meet the contingency of death occurring while in service. The fund is
operated by a separate Board of Trustees. During the year 2016 Tk. 6,000,000.00 has
been transferred to superannuation Fund.

(d) Benevolent Fund
This fund is mainly created for helping the distressed employees of the Bank when
applied for and /or for the benefit of the deceased employees’ family on humanitarian
ground and also to help the sons/daughters of the employees for passing SSC/HSC
Examinations or its equivalent Examinations. This fund is administered by five
administrators one is from non officers and the rest of them are from officers. Managing
Director is the Chairman of this fund by the virtue of the post.
3.11 Provision for Liabilities

A provision is recognized in the balance sheet when the Bank has a legal or constructive
obligation as a result of a past event and it is probable that an outflow of economic
benefit will be required to settle the obligations, in accordance with the BAS- 37
“Provisions, Contingent Liabilities and Contingent Assets”.
3.12 Rebate to good borrower:

As per BRPD circular no: 06 dated 19 March, 2015 and BRPD circular no:03 dated 16
February, 2016 Banks are required to provide 10% interest rebate to good borrower
subject to some qualifying criteria. The bank has kept provision for rebate for the
customers accordingly.
3.13 Provision for Nostro Account

Provision for Nostro Accounts is maintained as per Circular Letter No. FEPD
(FEMO)/01/2005-677 dated 13 September 2005 issued by Foreign Exchange Policy
Department of Bangladesh Bank.
3.14 Revenue Recognition

The revenue during the year is recognized following BAS-18 “Revenue Recognition” as
detailed below:
3.14.1 Interest Income

(i) Interest is calculated on daily product on loan and advances but charged and
accounted for quarterly on accrual basis. In terms of the provisions of the BAS-18
“Revenue”, the interest income is recognized on the effective year method.
(ii) Interest is charged on classified loans and advances as per Bangladesh Bank BRPD
circular No. 05 dated 05 June 2006 and other related circulars and such interest is not
taken into income.
3.14.2 Fees and Commission Income
Commission and discounts on bills purchased and discounted are recognized at the time
of realization.

3.14.3 Investment Income
Income on investments is recognized on accrual basis. Capital gain/loss is recognized at
the time of realization.
3.14.4 Dividend Income on Shares

Dividend income from investments is recognised at the time when it is declared,
ascertained and right to receive the payment is established as per BAS 18 ‘Revenue’.
3.14.5 Interest paid and other Expenses

In terms of the provisions of the BAS-1 “Presentation of the financial Statements”
interest and other expenses are recognized on accrual basis.
3.15 Foreign Currency Transactions

(a) Transactions in foreign currencies are translated into taka currency at the rates of
exchange prevailing on the date of such transactions except Wage Earner’s Scheme
as per BAS-21 “The effects of changes in Foreign Exchange Rates”.
(b) Gains and losses arising from fluctuation of exchange rates are recognized in Profit
and Loss Account.
3.16 Cash Flow Statement

Cash flow statement has been prepared in accordance with BAS -7 “Statement of Cash
Flows” and under the guidelines of Bangladesh Bank BRPD circular No. 14 dated 25
June 2003. The Statement shows the structure of changes in cash and cash equivalents
during the year.
3.17 Liquidity Statement

The liquidity statement has been prepared in accordance with the remaining maturity
grouping of the value of the assets and liabilities as on the reporting date under the
guidelines of Bangladesh Bank BRPD Circular No. 14 dated 25 June 2003.
3.18 Statement of Changes in Equity

Statement of Changes in Equity has been prepared in accordance with BAS-1
“Presentation of Financial Statements” under the guidelines of Bangladesh Bank BRPD
Circular No. 14 dated 25 June 2003.
3.19 Reconciliation of Books of Account

Books of account in regard to inter bank (in Bangladesh and outside Bangladesh) and
inter branch transactions are reconciled and no material difference was found which may
affect the financial statements significantly. However, there exist some entries that have
remained un-reconciled. (Note- 13.11).

3.20 Earning per Share
Basic Earning per Share
Earning per share (EPS) has been computed by dividing the basic earnings by the
number of Ordinary shares outstanding as on 31 December 201 6 as per BAS- 33
“Earning per Share”.
Diluted Earnings per Share

Diluted earning per share was not required to calculate, as there was no dilution
possibilities occurred.
3.21 Off Balance Sheet Items, Commitments & Contingencies and Provision
Under general banking transactions, liabilities against acceptance, endorsement and other
obligations and bills against which acceptance has been given and claim exists
thereagainst, have been shown as off balance sheet items as per BAS-37.
Various outstanding liabilities for acceptances, endorsements etc. in the normal course of
business are reflected in these accounts as per contra items to keep an accounting control
on the outstanding bills.
General Provision @ 1% against Off Balance Sheet Exposures has been made on the basis of
year end review by the management and instructions contained in Bangladesh Bank BRPD
circular No.10 and 14 dated 18 November 2007 and 23 September 2012 respectively.
3.22 Credit Rating Surveillance of the Bank

As per the BRPD instruction circular No. 06 Dated July 5, 2006 the Bank has done its
credit rating by Credit Rating Agency of Bangladesh Limited (CRAB) on 23 June 2016
based on the audited financial statements of 31 December 2015 and the following rating
was awarded:
Credit Rating Report (Surveillance Rating) on Uttara Bank Ltd.
[ Particulars Long Term Short Term

AA3
Surveillance Rating’ ST-2
(Very Strong Capacity &
2015 (High grade)
Very High Quality)
Date of Rating 23-06-2016
Validity of Rating 30-06-2017 30-06-2017

3.23 Compliance of Bangladesh Accounting Standards (BAS) and Bangladesh Financial
Reporting Standards (BFRS)
Name of the BAS BAS No. Status

Presentation of Financial Statements 1 Applied
Inventories 2 N/A
Statement of Cash Flows 7 Applied
Accounting Policies, Changes in Accounting estimates & Errors 8 Applied
Events after the Reporting Period 10 Applied
Construction Contracts 11 N/A
Income Taxes 12 Applied
Property, Plant and Equipment 16 Applied
Leases 17 Applied
Revenue 18 Applied
Employee Benefits 19 Applied
Accounting for Government Grants and Disclosure of Government
Assistance 20 N/A
The effects of changes in Foreign Exchange Rates 21 Applied
Borrowing Costs 23 Applied
Related Party Disclosure 24 Applied
Accounting and Reporting by Retirement Benefits Plan 26 N/A
Consolidated & Separate Financial Statements 27 Applied
Investment in Associates 28 N/A
Interest in Joint Ventures 31 N/A
Financial Instruments: Presentation 32 Applied
Earning per share 33 Applied
Interim Financial Reporting 34 Applied
Impairment of Assets 36 Applied
Provisions, Contingent Liabilities and Contingent Assets 37 Applied
Intangible Assets 38 N/A
Financial Instruments: Recognition and Measurement 39 Applied
Investment Property 40 N/A
Agriculture 41 N/A
First time Adoption of IFRS 1 N/A
Share Based Payment 2 N/A
Business Combinations 3 N/A
Insurance Contracts 4 N/A
Non- current Assets Held for Sale and Discontinued Operations 5 N/A
Exploration for and Evaluation of Mineral Resource 6 N/A
Financial Instruments: Disclosures 7 Applied
Operating Segments 8 N/A
Consolidated Financial Statements 10 Applied
Joint Arrangements 11 N/A
Disclosure of Interest in Other Entities 12 N/A
Fair Value Measurement 13 N/A
Relevant disclosures are made according to the requirements of Bangladesh Bank.

3.24 Audit Committee
The particulars of the members of the Audit Committee of the Board as on 31.12.2016
were as under:-
Status with
SL Status with
Name the Educational Qualification
No. the Bank
Committee
1 Dr. Md. Rezaul Karim Independent Chairman He obtained his B.Sc and M. Sc degree
Mazumder Director from the University of Dhaka and He did
his PhD degree from the University of
Dhaka in collaboration with Indian
Institute of Technology (IIT), Delhi.
2 Dr. Md. Nazmul Karim Independent Member He obtained B.Com (Hons.) in 1969 &
Chowdhury Director M.Com in Management in 1970 from
Dhaka University, MBA in 1980 from
Leuven University and Ph.D in 1984 from
Brussels University, Belgium.
3 Mr. Md. Kamal Akhtar Independent Member He obtained B.Com (Hons.) in 1969,
Director Masters in Commerce with honours in
Accounting in 1970 & MA in Economics
in 1971 & MBA in Business Finance in
1973 from Institute of Business
Administration (IBA), Dhaka University
and later MS in Business Administration
from University of Bath, England in 1982.
4 Mr. Faruque Alamgir Director Member He obtained M.A. degree from the
University of Dhaka. He also did LLB.
5 Mr. Shaikh Abdul Aziz Director Member M.Sc from Dhaka University
3.25 Related Party Disclosures
3.25.1 Name of the Directors and the entities in which they have interest as on 31.12.2016:
Percentage of
SL Status with Name of the entities in which the Status with the holding/Tk
Name
No. the Bank Directors have interest entities interest
in the entities
01 Mr. Azharul Islam Chairman 1 Milnars Pumps Ltd. Executive Chairman Representing
Sea Trade
Fertilizer Ltd.
and Aftab
Fertilizers &
Chemicals Ltd.
2 Aftab Fertilizers & Chemicals Ltd. Executive Chairman 11.15%
3 Sea Trade Fertilizer Ltd. Executive Chairman 45%
4 Aftab CNG Ltd. Executive Chairman 0.40%
5 Aftab Group of Industries Ltd. Executive Chairman Representing
Sea Trade
Fertilizer Ltd.,
Aftab
Fertilizers &
Chemicals Ltd.
and Aftab
Foods Ltd.

Percentage of
Name
in the entities
6 Aftab Foods Ltd. Executive Chairman 0.035%
7 Aftab Milk & Milk Products Ltd. Executive Chairman 10.00%
8 Aftab Global Textiles Ltd. Executive Chairman 1.008%
9 Aftab Power Ltd. Executive Chairman 40.00%
10 Aftab Garments Ltd. Executive Chairman 0.021%
11 Frozen Foods Ltd. Executive Chairman 48.00%
12 Aftab Real Estate Ltd. Executive Chairman 50.00%
13 Aftab IT Limited Executive Chairman 40.00%
14 Aftab Global Fisheries Ltd. Executive Chairman 0.04%
02 Mr. Iftekharul Vice 1 Milnars Pumps Ltd. Chairman and Representing
Islam Chairman Managing Director Sea Trade
Fertilizer Ltd.
and Aftab
Fertilizer and
Chemicals Ltd.
2 Aftab Fertilizers & Chemicals Ltd. Chairman and 13.56%
Managing Director
3 Sea Trade Fertilizer Ltd. Chairman and 51.00%
Managing Director
4 Aftab CNG Ltd. Chairman and 0.43%
Managing Director
5 Aftab International Ltd. Chairman and 80.00%
Managing Director
6 Aftab Group of Industries Ltd. Chairman and 60.00%
Managing Director
7 Aftab Steel Ltd. Chairman and 80.00%
Managing Director
8 Aftab Foods Ltd. Chairman and 0.0125%
Managing Director
9 Aftab Local & Intl. Trading Ltd. Chairman and 90.00%
Managing Director
10 Aftab Garments Ltd. Chairman and 0.026%
Managing Director
11 Aftab Software Ltd. Chairman and 80.00%
Managing Director
12 Aftab Computers Ltd. Chairman and 80.00%
Managing Director
13 Aftab Properties Ltd. Chairman and 80.00%
Managing Director
14 Aftab Motors Ltd. Chairman and 80.00%
Managing Director
15 Aftab Holdings Ltd. Chairman and 80.00%
Managing Director
16 Aftab Fabrics Ltd. Chairman and 80.00%
Managing Director
17 Aftab Logistics Ltd. Chairman and 80.00%
Managing Director
18 Aftab Electronics Ltd. Chairman and 80.00%
Managing Director
19 Aftab Global Textiles Ltd. Chairman and 1.008%
Managing Director
20 Aftab Global Fisheries Ltd. Chairman and 0.04%
Managing Director
21 Aftab Power Ltd. Chairman and 40.00%
Managing Director
22 Frozen Foods Ltd. Chairman and 48.80%
Managing Director

Percentage of
Name
in the entities
23 Aftab Broad Casting Corporation Ltd. Chairman and 80.00%
Managing Director
24 Aftab Dyeing Industries Ltd. Chairman and 40.00%
Managing Director
25 Aftab Basic Chemical Industries Ltd. Chairman and 95.00%
Managing Director
26 Aftab Chemicals Ltd. Chairman and 80.00%
Managing Director
27 Aftab Batteries Ltd. Chairman and 40.00%
Managing Director
28 Aftab Plastic Ltd. Chairman and 80.00%
Managing Director
29 Milnars Holdings Ltd. Chairman and 95.00%
Managing Director
30 Aftab Furniture Ltd. Chairman and 95.00%
Managing Director
31 Aftab Jute Mills Ltd. Chairman and 80.00%
Managing Director
32 Aftab Real Estate Ltd. Chairman and 50.00%
Managing Director
33 Aftab Global Foundation Ltd. Chairman and 90.00%
Managing Director
34 Aftab Spinning Mills Ltd. Chairman and 95.00%
Managing Director
03 Mr. Syed A.N.M. Director 1 8th ICB Mutual Fund Shareholder Tk. 4,700/-
Wahed 2 1st BSRS Mutual Fund Shareholder Tk.10,000/-
3 Monno Fabrics Limited Shareholder Tk.1,00,000/-
4 Beximco Textiles Ltd. Shareholder Tk. 25,000/-
5 Pragati Insurance Ltd. Shareholder Tk. 200/-
6 6th ICB Mutual Fund Shareholder Tk.15,000/-
7 5th ICB Mutual Fund Shareholder Tk. 13,000/-
8 Federal Insurance Co. Ltd. Shareholder Tk. 5,000/-
04 Engr. Tofazzal Hossain Director N I L N I L N I L
05 Mr. Arif Rahman Director Bengal Tradeways Ltd. Director 24.97%
06 Abul Barq Alvi Director N I L N I L N I L
07 Dr. Md. Nazmul Independent N I L N I L N I L
Karim Chowdhury Director
08 M. Tajul Islam Director N I L N I L N I L
09 Mr. Md. Kamal Independent N I L N I L N I L
Akhtar Director
10 Dr. Md. Razaul Independent N I L N I L N I L
Karim Mazumder Director
11 Col. Engr. M.S. Director 1 Al-Arafa Islami Bank Ltd Shareholder Tk. 16,700/-
Kamal (Retd.) 2 Lafarge Surma Cement Shareholder Tk. 10,000/-
3 Power Grid Shareholder Tk. 18,920/-
4 Grameen Phone Shareholder Tk. 16,000/-
5 ICB 2ND NRB Shareholder Tk. 25,000/-
6 Shahjalal Islami Bank Ltd Shareholder Tk. 31,810/-
12 Mr. Asif Rahman Director 1 Bengal Tradeways Ltd. Director 24.97%
2 CHB Building Technologies Ltd. Director 45%
3 Bengal Sourcing Proprietor 100%
13 Mr. Faruque Alamgir Director N I L N I L N I L
14 Shaikh Abdul Aziz Director N I L N I L N I L
15 Mohammed Managing N I L N I L N I L
Rabiul Hossain Director

3.25.2 Significant contracts where Bank is a party and wherein Directors have interest
Nature of Purpose Name of Director and related by Lease period Rema
contract rks
Lease agreement Tenancy of portion 1. Mr. Azharul Islam, Chairman of Uttara Lease period-6
with Aftab of 4th floor space at Bank Ltd. (Executive Chairman of (six) years w.e.f
Fertilizers & Head Office Aftab Fertilizers & Chemicals Ltd.) 01.07.2012 to
Chemicals Ltd. Building, 47, Shahid 30.06.2018. The
Bir Uttam Asfaqus rent will be
Samad Sarak 2. Mr. Iftekharul Islam, Vice Chairman of refixed after every
(formerly 90, Uttara Bank Ltd. (Chairman & 02 (two) years.
Managing Director of Aftab Fertilizers
Motijheel C/A),
& Chemicals Ltd.)
Dhaka
with Sea Trade of 5th floor space at Bank Ltd. (Executive Chairman of Sea (six) years w.e.f
Fertilizer Ltd. Head Office Trade Fertilizer Ltd.) 15.02.2012 to
Building, 47, Shahid 14.02.2018. The
(formerly 90, Uttara Bank Ltd. (Chairman & 02(two) years.
Managing Director of Sea Trade
Motijheel C/A),
Fertilizer Ltd.)
Dhaka
with Milnars of 5th floor space at Bank Ltd. ( Executive Chairman of (six) years w.e.f
Pumps Limited Head Office Milnars Pumps Limited.) 15.02.2012 to
Building, 47, Shahid 14.02.2018. The
(formerly 90, Uttara Bank Ltd. (Chairman and 02 (two) years.
Managing Director of Milnars Pumps
Motijheel C/A),
Limited)
Dhaka
3.25.3 Shares issued to directors and executives without consideration or exercisable at

discount: Nil

3.25.4 Related Party Transactions
The Bank in normal course of business has had transactions with other entities that fall
within the definition of Related Party as contained in Bangladesh Accounting Standards
(BAS)-24 (Related Party Disclosures) and as defined in the BRPD circular No. 14 issued
by Bangladesh Bank on 25 June 2003.
Outstanding Transaction Outstanding

Name of the Nature of as on
Related by Debit Credit as on
Party Transaction 01-Jan-16
(Taka) (Taka) 31-Dec-16
(Taka)
Mr. Azharul
Islam
Islam
Brothers
(Chairman of Term Loan 125,977,266.00 15,000.00 25,500,000.00 100,492,266.00
Properties
the Bank) as
Ltd.
Guarantor
Aftab
Fertilizers and Chairman and
Office Rent - 5,056,177.00 - 5,056,177.00
Chemicals Vice-Chairman
Ltd.
Sea Trade Chairman and

Office Rent - 3,175,007.00 733,241.00 2,441,766.00
Fertilizer Ltd. Vice-Chairman
Milnars
Chairman and
Pumps Office Rent - 4,940,413.00 - 4,940,413.00
Vice-Chairman
Limited
UB Capital
and Subsidiary
Office Rent - 14,41,440.00 14,41,440.00 -
Investment Company
Ltd.
Uttara Bank
Subsidiary
Securities Office Rent 11,70,000.00 11,70,000.00 -
Company -
Ltd.
3.26 Lending Policies to Related Parties

Lending to related parties is effected as per requirements of Section 27(1) of Bank
Companies Act, 1991 (amended up to 2013).
3.26.1 Loans and advances to directors and their related concern (Note - 8.05)
3.26.2 Business other than banking business with any related concern of the directors as
per Section 18(2) of the
Bank companies Act, 1991 (amended up to 2013). (Note- 3.25.4)

3.26.3 Investments in the securities of directors and their related concerns: Nil
3.27 Regulatory and Legal Compliance

The Bank complied with the requirements of following regulatory and legal authorities:
(a) The Bank Companies Act, 1991(amended up to 2013).
(b) The Companies Act, 1994.
(c) Rules & Regulations issued by Bangladesh Bank.
(d) The Securities and Exchange Rules 1987 and the Bangladesh Securities and
Exchange Commission (Public Issue) Rules 2006.
(e) Dhaka & Chittagong Stock Exchange listing regulations-2015.
(f) The Income Tax Ordinance, 1984.
(g) The VAT Act, 1991.
3.28 General
(a) Figures appearing in these financial statements have been rounded off to the
nearest Taka.
(b) The expenses, irrespective of capital or revenue nature, accrued but not paid have
been provided for in the books of accounts of the Bank.
(c) Previous year's figures have been re-arranged in order to conform to current year's
presentation.
(d) The accounting policy has been followed consistently throughout the year.
(e) No Asset has been offset against any liability except UBL General Account.

Amount in Taka
2016 2015
4.00 Cash
Cash in hand (Note - 4.01) 2,527,826,851 2,563,631,973
Balance with Bangladesh Bank and its agent Bank (Note - 4.02) 10,241,301,021 9,891,998,568
12,769,127,872 12,455,630,541
4.00.a Consolidated cash
Cash in hand (Note - 4.01.a) 2,527,838,471 2,563,655,628
Balance with Bangladesh Bank and its agent Bank (Note- 4.02) 10,241,301,021 9,891,998,568
12,769,139,492 12,455,654,196
4.01 Cash in hand
Local currency 2,514,676,727 2,547,415,547
Foreign currencies 13,150,124 16,216,426
2,527,826,851 2,563,631,973
4.01.a Consolidated cash in hand
Uttara Bank Limited (Notes - 4.01) 2,527,826,851 2,563,631,973
UB Capital & Investment Ltd. 1,320 -
Uttara Bank Securities Ltd. 10,300 23,655
2,527,838,471 2,563,655,628
4.02 Balance with Bangladesh Bank and its agent Bank
Bangladesh Bank
In local currency 9,040,487,068 8,147,294,088
In foreign currencies 540,576,827 768,424,705
9,581,063,895 8,915,718,793
Sonali Bank as agent of Bangladesh Bank
Local currency 660,237,126 976,279,775
10,241,301,021 9,891,998,568
4.03 Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)
Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) have been calculated and maintained in
accordance with section 33 of the Bank Companies Act 1991, MPD circular no. 02 & 01 dated 10.12.2013
& 23.06.2014, DOS circular no. 01 dated 19.01.2014.
4.03.1 Cash Reserve Ratio (CRR) : 6.5%

of Average Demand and Time Liabilities
Required reserve in amount 8,684,656,906 7,800,596,388
Percentage (%) 6.50 6.50
Average reserve held in amount (Bangladesh Bank) 9,053,471,379 8,044,781,976
Percentage (%) 6.77 6.70
Surplus/ (Deficit) (%) 0.27 0.20
4.03.2 Statutory Liquidity Ratio (SLR): 13%
of Average Demand and Time Liabilities
Required reserve in amount 17,369,313,812 15,601,192,776
Percentage (%) 13.00 13.00
Actual reserve held in amount (Note 4.03.3) 32,720,918,696 43,882,178,238
Percentage (%) 24.49 36.57
Surplus/ (Deficit) (%) 11.49 23.57

Amount in Taka
2016 2015
4.03.3 Held for Statutory Liquidity Ratio
Cash in hand 2,527,826,851 2,563,631,973
Balance with Bangladesh Bank (Excess Reserve) 327,760,000 334,991,000
Balance with Sonali Bank Limited as agent of Bangladesh Bank (Note- 4.02) 660,237,126 976,279,775
Unencumbered approved securities (Note -7.00) 29,206,394,719 40,008,575,490
Lien mark on 20 years Treasury Bond with Bangladesh Bank (1,300,000) (1,300,000)
32,720,918,696 43,882,178,238
5.00 Balance with other Banks and financial institutions
In Bangladesh
Current deposit (Note- 5.01) 95,314,195 69,970,000
Fund placement & Fixed Term Deposit (Note- 5.02 & 5.03) 22,708,382,100 7,685,720,000
22,803,696,295 7,755,690,000
Outside Bangladesh (Note- 5.04) 465,039,040 688,970,646
23,268,735,335 8,444,660,646
5.00.a Consolidated Balance with other Banks and financial institutions
In Bangladesh
Uttara Bank Limited 22,803,696,295 7,755,690,000
UB Capital & Investment Ltd. - -
Uttara Bank Securities Ltd. 33,986,736 2,502,142
22,837,683,031 7,758,192,142
Outside Bangladesh (Note- 5.04) 465,039,040 688,970,646
23,302,722,071 8,447,162,788
5.01 In Bangladesh
Current deposit with
Janata Bank Limited 50,493 502,002
ICB Islamic Bank Limited 21,300,000 25,300,000
Agrani Bank Limited 10,308,750 14,124,312
Sonali Bank Limited 63,654,952 30,043,686
95,314,195 69,970,000
5.02 Fund placement with
Eastern Bank Limited 314,826,600 392,602,000
BRAC Bank Limited 393,555,500 393,118,000
708,382,100 785,720,000
5.03 Fixed Term Deposit with
Midland Bank Limited 500,000,000 300,000,000
Jamuna Bank Limited 2,000,000,000 750,000,000
Brac Bank Limited 2,300,000,000 1,000,000,000
Investment Corporation of Bangladesh 4,000,000,000 1,000,000,000
Standard Bank Limited 2,500,000,000 500,000,000
NRB Global Bank Limited 500,000,000 350,000,000
South Bangla Agriculture and Commerce Bank Limited 500,000,000 500,000,000
Basic Bank Limited 500,000,000 1,500,000,000
Bangladesh Development Bank Limited 500,000,000 -
Dhaka Bank Limited 2,000,000,000 -
Bangladesh Commerce Bank Limited 100,000,000 -
Modhumoti Bank Limited 550,000,000 -
The Premier Bank Limited 500,000,000 -
One Bank Limited 500,000,000 -
National Bank Limited 1,000,000,000 -
Shahjalal Islami Bank Limited 1,000,000,000 -
Mercantile Bank Limited 500,000,000 -
Delta Brac Housing Finance Corporation Limited 400,000,000 -
Industrial and Infrastructure Development Finance Company Limited 300,000,000 -
Hajj Finance Company Limited 200,000,000 -
Lanka Bangla Finance Limited 150,000,000 -
NRB Commercial Bank Limited 1,500,000,000
AB Bank Limited - 500,000,000
Meghna Bank Limited - 500,000,000
22,000,000,000 6,900,000,000

Amount in Taka
2016 2015
5.04 Outside Bangladesh (Nostro Account)

Current account 465,039,040 688,970,646
(Details are shown in Annexure A )
5.05 Maturity grouping of Balance with other Banks and financial institutions
In Bangladesh
Repayable on demand 74,014,195 44,670,000
Upto 1 month 10,308,382,100 5,435,720,000
Over 1 month but not more than 3 months 12,400,000,000 2,250,000,000
Over 3 months but not more than 1 year - -
Over 1 year but not more than 5 years - -
Over 5 years 21,300,000 25,300,000
22,803,696,295 7,755,690,000
Outside Bangladesh
Repayable on demand 465,039,040 688,970,646
23,268,735,335 8,444,660,646
6.00 Money at call on short notice
With Banks - -
With financial institutions - 200,000,000
- 200,000,000
7.00 Investments
Investments in Securities
Treasury Bills (Note- 7.01) 230,114,764 1,508,352,489
Government Treasury Bonds (Note- 7.02) 28,967,498,955 32,701,941,581
Prize Bond 8,781,000 14,803,420
Bangladesh Bank Bills - 5,783,478,000
29,206,394,719 40,008,575,490
Other Investments
Shares and Debentures of ICB sponsored companies (Note- 7.03) 6,618,663 6,734,663
Shares of Companies (Note-7.04) 317,893,060 317,893,060
Reverse Repo with Bangladesh Bank - -
Subordinated bond 1,380,000,000 900,000,000
Commercial Paper 700,000,000 100,000,000
Others (Note- 7.05) 3,380,583 3,380,583
2,407,892,306 1,328,008,306
31,614,287,025 41,336,583,796
Investment in Securities are classified
according to Bangladesh Bank Circular
Held for trading 7,046,637,893 10,490,020,890
Held to maturity 22,046,368,826 29,355,132,180
Other securities 2,521,280,306 1,491,430,726
31,614,287,025 41,336,583,796
7.00.a Consolidated Investments
Uttara Bank Securities Limited 93,835,952 -
UB Capital & Investment Limited - -
31,708,122,977 41,336,583,796

Amount in Taka
2016 2015
7.01 Treasury Bills
91 days Treasury Bills - -
182 days Treasury Bills 230,114,764 698,272,364
364 days Treasury Bills - 810,080,125
230,114,764 1,508,352,489
7.02 Government Treasury Bonds
25 years Treasury Bond (JSAC) 104,607,000 148,619,000
20 years' Treasury Bond 3,316,728,346 3,283,511,486
15 years Treasury Bond 6,792,508,700 6,696,460,243
28,967,498,955 32,701,941,581
7.03 Share & Debentures of ICB sponsored companies
Underwritting Advance (Share) 5,201,243 5,317,243
Underwritting Advance (Taken up share) 1,057,920 1,057,920
Underwritting Advance (Debenture) 359,500 359,500
6,618,663 6,734,663
7.04 Shares of companies

Market
price Total
Name of company No. of Book value Book value
per Market value
(Quoted) Share 2016 2015
share (Taka)
(Taka)
Investment Corporation
10,059,180 104.50 1,051,184,310 199,445,000 199,445,000
of Bangladesh
Eastern Bank Ltd. 29,285,655 29.00 849,283,995 104,017,400 104,017,400
National Tea Co. Ltd. 24,250 728.60 17,668,550 242,500 242,500
8th ICB Mutual Fund 6,160 60.00 369,600 61,600 61,600
Bangladesh Shipping
570 470.20 268,014 57,000 57,000
Corporation
A 39,375,815 1,918,774,469 303,823,500 303,823,500
Face
Name of company No.of Average Cost Book value Book value
value
(Un-quoted) Share (Taka) 2016 2015
(Taka)
Karmasangsthan Bank 100,000 100.00 100.00 10,000,000 10,000,000
Central Depository
571,181 10.00 2.75 1,569,450 1,569,450
Bangladesh Ltd.
Industrial Promotion
25,000 10.00 10.00 250,000 250,000
Services Ltd.
Calico Cotton Mills Ltd. 25,011 10.00 10.00 250,110 250,110
MSF A.M. Co. Ltd. 200,000 10.00 10.00 2,000,000 2,000,000
B 921,192 14,069,560 14,069,560
A+B 40,297,007 317,893,060 317,893,060

Amount in Taka
2016 2015
7.05 Others
Rajshahi Jute Mills Ltd. (Govt. Guaranteed) 43,134 43,134
Star Jute Mills Ltd.(Govt. Guaranteed) 3,337,449 3,337,449
3,380,583 3,380,583
7.06 Asset pledged as security
Assets in the amounts shown below were pledged as
security for the following liabilities
Liabilities to banks 26,000,000 26,000,000
Liabilities to customers - -
26,000,000 26,000,000
Following assets were pledged as security for the above mentioned liabilities
Claims on banks 37,000,000 37,000,000

Claims on customers - -
37,000,000 37,000,000
At 5% margin of twenty years 1(one) Treasury Bond 2030 of total Tk. 37,000,000 are
pledged as security with Bangladesh Bank under T.T. discounting facilities of Tk. 26,000,000.
7.07 Maturity grouping of investments

On Demand 8,781,000 14,803,420
Upto 1 month 550,069,396 5,768,674,580
Over 1 month but not more than 3 months 739,816,851 1,046,040,064
Over 3 months but not more than 1 year 756,814,764 966,549,853
Over 1 year but not more than 5 years 5,408,545,101 8,540,008,466
Over 5 years 24,150,259,913 25,000,507,413
31,614,287,025 41,336,583,796
7.08 Classification of investment
Un-classified 31,603,787,669 41,325,968,440
Sub-standard - -
Doubtful - -
Bad or Loss 10,499,356 10,615,356
31,614,287,025 41,336,583,796
7.09 Particulars of required provision for investment

Un-classified - -
Sub-standard - -
Doubtful - -
Bad or Loss 10,499,356 10,615,356
Provision required 10,499,356 10,615,356
Provision maintained (Note-13.08) 11,704,000 11,704,000
Excess provision 1,204,644 1,088,644

Amount in Taka
2016 2015
8.00 Loans and advances
Loans , cash credits and over drafts etc.
In Bangladesh
Over draft 9,528,643,985 7,404,927,893
Cash credit 40,147,465,058 37,688,187,586
Loan 19,922,874,395 17,320,158,704
Consumer financing 3,315,529,484 3,344,218,929
Agri credit 2,090,771,053 1,796,214,118
Uttaran paribashbandhab loan scheme 89,876,674 83,656,946
Rural credit 11,222,700 11,257,632
Loan against imported merchandise 377,693,307 529,516,597
Loan against trust receipt 4,140,867,499 4,334,898,684
Overdraft export 250,184,911 283,644,112
Lease financing (Note- 8.02) 208,938,093 292,496,635
Uttaran taka 10 small/micro loan scheme 15,590,053 10,555,707
EDF Loan Account 581,144,585 -
80,680,801,797 73,099,733,543
Outside Bangladesh - -
80,680,801,797 73,099,733,543
Bills purchased and discounted
In Bangladesh
Demand draft purchased 50,057 50,057
Inland bills purchased 2,144,523,818 2,364,090,276
Payment against documents 413,019,478 273,680,161
2,557,593,353 2,637,820,494
Outside Bangladesh
Foreign bills purchased 72,693,250 69,334,435
Foreign drafts purchased - -
72,693,250 69,334,435
2,630,286,603 2,707,154,929
83,311,088,400 75,806,888,472
8.01 Net loans and advances
Total loans and advances 83,311,088,400 75,806,888,472
Interest suspense (Note-13.09 ) (1,166,917,430) (1,137,152,503)
Provision for loans and advances (Note-13.03) (1,990,636,184) (1,782,176,696)
Net loans and advances 80,153,534,786 72,887,559,273
8.02 Lease finance
Lease finance receivable within 1 year 98,285,129 113,763,550
Lease finance receivable within 5 years 152,393,020 233,278,090
Lease finance receivable after 5 years - -
Total Lease rental receivable 250,678,149 347,041,640
Less: Unearned income on lease finance (41,740,056) (54,545,005)
208,938,093 292,496,635

Amount in Taka
2016 2015
8.03 Maturity grouping of loans & advances including bills purchased and discounted
i) Loans and Advances
Receivable on Demand - -
Upto 1 month 14,414,818,650 12,851,603,247
Over 3 months but not more than 1 year 37,418,592,320 33,709,619,236
Over 1 year but not more than 5 years 12,235,587,799 14,518,253,057
Over 5 years 6,587,711,548 6,935,850,460
80,680,801,797 73,099,733,543
ii) Bills purchased and discounted
Payable within 1 month 50,057 50,057
Over 3 months but not more than 6 months - -
6 months or more - -
2,630,286,603 2,707,154,929
83,311,088,400 75,806,888,472
8.04 Loans and advances under the following broad categories

In Bangladesh
Loan 30,754,507,843 27,722,973,952
Cash Credit 40,147,465,058 37,688,187,586
Over Draft 9,778,828,896 7,688,572,005
80,680,801,797 73,099,733,543
80,680,801,797 73,099,733,543
Bills purchased and discounted
In Bangladesh 2,557,593,353 2,637,820,494
2,630,286,603 2,707,154,929
83,311,088,400 75,806,888,472
8.05 Loans and advances on the basis of significant concentration

Advance to allied concerns of Directors (Note- 3.25.4) 100,492,266 125,977,266
Advance (HBL) to the employees' of the Bank
(Note- 8.06) 2,945,281,400 2,891,582,094
Advance to customers' group 66,384,739,846 60,205,199,038
Industrial Advances (Note- 8.07) 13,880,574,888 12,584,130,074
83,311,088,400 75,806,888,472

Amount in Taka
2016 2015
8.06 Advance (HBL) to the employees of the Bank
Advance to the Managing Director - -
Advance to senior executives 6,273,243 13,382,809
Advance to other employees 2,939,008,157 2,878,199,285
2,945,281,400 2,891,582,094
8.07 Industrial Advances
Term lending
Large Industries 2,419,781,704 1,356,623,178
Small & & Medium Industry 1,351,133,904 1,575,412,256
Cottage Indusries/Micro Industries 2,219,061 62,346,571
Service Industries 312,568,857 226,352,824
4,085,703,526 3,220,734,829
Working Capital
Large Industries 1,349,891,974 1,069,276,806
Small & & Medium Industry 7,476,282,862 7,434,803,450
Cottage Indusries/Micro Industries 61,166,503 336,931,419
Service Industries 907,530,023 522,383,570
9,794,871,362 9,363,395,245
13,880,574,888 12,584,130,074
8.08 Industry wise segregation of loans & advances

Agriculture, fisheries and forestry 2,090,771,053 1,796,214,118
Industry 13,880,574,890 12,584,130,074
Construction 6,144,650,738 6,172,638,309
Trade & Commerce 49,907,640,374 41,397,668,594
Other Institutional Loan 6,840,875,409 9,722,267,515
Consumer Financing 4,350,581,564 4,028,259,673
Miscellaneous 95,994,372 105,710,189
83,311,088,400 75,806,888,472
8.09 Sector wise loans & advances including bills purchased and discounted
In Bangladesh
Government & Autonomous bodies 10,976,282 10,598,000
Financial Institutions 4,661,407,666 6,658,270,384
Private Sector 78,638,704,452 69,138,020,088
83,311,088,400 75,806,888,472
83,311,088,400 75,806,888,472

Amount in Taka
2016 2015
8.10 Geographical area basis distribution of loans and advances

including bills discounted and purchased
Dhaka Division 49,163,891,956 44,591,185,500
Chittagong Division 12,339,376,377 10,659,937,797
Khulna Division 5,240,676,161 4,803,593,018
Barisal Division 4,288,123,031 3,927,536,536
Rajshahi Division 4,706,286,053 4,499,811,200
Sylhet Division 2,090,305,282 1,948,011,316
Rangpur Division 3,612,119,921 3,634,695,823
Mymensingh Division 1,870,309,619 1,742,117,282
83,311,088,400 75,806,888,472
8.11 Loans and advances allowed to each customer exceeding 10% of Bank's total Capital
Number of clients with amount of outstanding and classified loan to whom loans & advances
sanctioned exceeding 10% of total capital of the Bank. Total capital of the Bank was
Tk.1,205.93 crore at 31.12.2015 ( 2014 : Tk. 1,149.33 crore).
Number of clients 10 9
Amount of outstanding advances 14,695,696,412 14,289,606,710
Amount of classified advances - -
(Details are given in Annexure - B)
8.12 Classification of loans & advances including bills as per Bangladesh Bank circular
Unclassified (including staff loan)
Standard (Including staff loan) 75,682,481,400 68,607,525,168
Special mentioned account 1,170,583,000 926,775,949
76,853,064,400 69,534,301,117
Classified loans & advances
Sub-Standard 669,963,000 1,025,050,991
Doubtful 632,023,000 622,929,058
Bad or loss 5,156,038,000 4,624,607,306
6,458,024,000 6,272,587,355
83,311,088,400 75,806,888,472

8.13 Particulars of required provision for loans and advances
Outstanding Base for Required Provision

Particulars Balance provision 2016 2015
(Taka) (Taka) Taka Taka
Unclassified-general provision
a) Standard
i) Small&Medium entpris.Financing
(SMEF) @0.25% 44,062,741,000 44,062,741,000 110,156,853 98,793,967
ii) Consumer Financing (CF) @ 5% 3,613,492,000 3,613,492,000 180,674,600 157,625,676
iii) CF (Other than HF & LP) @ 5% - - - 9,849,395
iv) Housing Finance (HF) @2% 2,516,592,000 2,516,592,000 50,331,840 48,169,135
v) Loans for professionals (LP) @2% 8,989,608,000 8,989,608,000 179,792,160 182,478,041
vi) Loans to BHs/MBs/SDs @2% - - - -
vii) Short term Agri. Credit@2.5% 890,002,000 890,002,000 22,250,050 24,432,717
viii) Micro Credit @2.5% - - - 171,096
ix) Others (Other than SMEF&
CF,LP,BHs/MBs/SDs) @1% 12,664,765,000 12,664,765,000 126,647,650 103,323,437
72,737,200,000 72,737,200,000 669,853,153 624,843,464
b) SMA
i) Small&Medium entpris.Financing
(SMEF) @0.25% 299,540,000 299,540,000 748,850 748,572
ii) Consumer Financing (CF) @ 5% 3,351,000 3,351,000 167,550 43,285
iii) CF (Other than HF & LP) @ 5% - - - 102,746
iv) Housing Finance (HF) @2% 343,201,000 343,201,000 6,864,020 8,484,311
v) Loans for professionals (LP) @2% 22,634,000 22,634,000 452,680 964,696
vi) Loans to BHs/MBs/SDs @2% - - - -
vii) Short term Agri. Credit@2.5% - - - -
viii) Others (Other than SMEF&
CF,LP,BHs/MBs/SDs) @1% 25,862,000 25,862,000 258,620 1,519,761
ix) Other restructuring @2% 475,995,000 372,407,000 7,448,140 -
1,170,583,000 1,066,995,000 15,939,860 11,863,371
Total Unclassified Loans and
Advances 73,907,783,000 73,804,195,000 685,793,013 636,706,835
Classified-Specific Provision
Substandard 669,963,000 244,693,000 27,859,100 42,354,598
Doubtful 632,023,000 162,186,000 50,336,850 73,621,230
Bad or loss 5,156,038,000 1,162,774,000 1,162,774,000 927,692,581
6,458,024,000 1,569,653,000 1,240,969,950 1,043,668,409
Staff loans 2,945,281,400 - - -
Total Loans and Advances 83,311,088,400 75,373,848,000 1,926,762,963 1,680,375,244
Required provision for loans and advances 1,926,762,963 1,680,375,244
Provision maintained (Note-13.03) 1,990,636,184 1,782,176,696
Excess provision 63,873,221 101,801,452

Amount in Taka
2016 2015
8.14 Loan restructuring 475,995,009 420,305,369

In terms of Bangladesh Bank, Banking Regulation & Policy Department BRPD Circular
No. 04 dated January 29,2015 Bank allowed above amount as restructuring facilities to
Samannaz Super Oil Ltd., Agrabad Branch, Chittagong for the year 2016.
8.15 Particulars of loans and advances
i) Debts considered good in respect of which
the Bank Company is fully secured 82,991,814,669 75,571,903,240
ii) Debts considered good for which the Bank holds no
other security than the debtors' personal security 10,976,282 10,598,000
iii) Debts considered good being secured by the personal
securities of one or more parties in addition to
the personal security of the debtors 308,297,449 224,387,232
iv) Debts considered doubtful or bad not provided for - -
83,311,088,400 75,806,888,472
v) Balance of debts due by Directors or Officers of the
bank or any of them either severally or
jointly with any other persons 2,945,281,400 2,891,582,094
vi) Balance of debts due by companies or firms in which
the directors of the Bank are interested as directors,
partners or managing agents or in the
case of private companies as members 100,492,266 125,977,266
vii) Maximum total amount of advances including temporary
advances made at any time during the year to directors
or employees' of the bank or any of them either severally
or jointly with any other person 2,945,281,400 2,891,582,094
viii) Maximum total amount of advances including temporary
advances granted during the year to the companies or
firms in which the directors of the bank are
interested as Directors,partners or managing agents
or in the case of private companies, as members. 100,492,266 125,977,266
ix) Debts due from Bank Companies - -
x) Classified loan on which interest/profit has not been charged 6,458,024,000 6,272,587,355
xi) Increase/decrease in provision (specific) 159,959,488 55,688,129
xii) Amount of loan written off debt 1,420,768,643 1,546,561,024
xiii) Amount recovered against the debt
which was previously written off - -
xiv) Amount of provision kept against the amount of
loan classified as bad/loss 1,225,136,183 1,028,176,696
xv) Amount of interest credited to intt. suspense account
(Note- 13.09) 360,705,839 451,846,598
xvi) Cumulative amount of written off debts for
which suit has been filed for recovery
Amount of debt written off 12,252,164,774 10,705,603,750
Amount of written off debt during the year 1,420,768,643 1,546,561,024
13,672,933,417 12,252,164,774

Amount in Taka
2016 2015
9.00 Fixed assets including land, building, furniture

and fixtures
Cost
Land 1,315,648,485 1,315,648,485
Building 1,285,054,527 1,271,634,926
Furniture and fixtures 637,909,988 661,087,685
Vehicles 161,356,652 321,635,397
Office appliance 1,167,941,180 1,252,514,217
Software 212,693,703 194,390,538
4,780,604,535 5,016,911,248
Less : accumulated depreciation 1,503,852,966 1,671,397,030
Net Book value at the end of the year 3,276,751,569 3,345,514,218
(Details are shown in Annexure - C)
9.00.a Consolidated Fixed assets including land,

building, furniture and fixtures
Uttara Bank Limited
Cost 4,780,604,535 5,016,911,248
Less: Accumulated Depreciation 1,503,852,966 1,671,397,030
3,276,751,569 3,345,514,218
Uttara Bank Securities Ltd.
Cost 11,817,481 10,617,481
Less: Accumulated Depreciation 2,376,549 579,834
9,440,932 10,037,647
Net Book value at the end of the year 3,286,192,501 3,355,551,865
(Details are shown in Annexure -D)
9.01 Classification of fixed assets as per Bangladesh

Bank circular
Unclassified 3,262,871,889 3,331,634,538
Sub-Standard - -
Doubtful - -
Bad or loss 13,879,680 13,879,680
3,276,751,569 3,345,514,218
9.02 Particulars of required provision for fixed
assets
Sub-standard - -
Doubtful - -
Bad or loss 13,879,680 13,879,680
Required provision 13,879,680 13,879,680
Provision maintained (Note-13.07) 15,000,000 15,000,000
Surplus provision 1,120,320 1,120,320

Amount in Taka
2016 2015
10.00 Other Assets
Stationery, stamps, printing materials in stock etc. 28,930,265 30,068,893
Advance rent 167,868,438 173,307,288
Interest accrued on Investment but not collected 820,112,428 833,080,702
Interest receivable on loans and advances 114,236,868 25,940,499
Pre-payment and Security Deposit 79,108,436 83,919,638
Suspense account 23,718,034 32,130,298
Investment in subsidiaries (Note- 10.01) 599,964,000 599,964,000
Others (Note- 10.02) 6,274,795,009 8,037,693,247
8,108,733,478 9,816,104,565
10.00.a Consolidated other assets
UB Capital & Investment Ltd. 18,589,664 15,718,902
8,475,903,322 10,159,596,178
Less: Inter Company Elimination (599,964,000) (599,964,000)
7,875,939,322 9,559,632,178
10.00.b Non-Banking assets
Opening balance 70,912,083 71,276,237
Adjustment during the year (1,970,269) (364,154)
Closing balance 68,941,814 70,912,083
10.01 Investment in subsidiaries 599,964,000 599,964,000
This represents investment in UB Capital & Investment Limited and Uttara Bank Securities
Limited which are subsidiary companies of Uttara Bank Limited.
10.02 Others
Income tax deducted at source 698,439,748 599,106,608
Upfront tax on Govt. bills/bonds etc. 49,782,768 49,782,648
Clearing House Adjustment 17,325,000 300,000
Receivable from Government 24,225 24,225
Excise duty receivable 10,856,880 14,287,960
Claims on Sanchaypatra 436,803,373 1,239,839,812
Claim against re-structuring of debts of
raw jute under Government agreement 20,301,905 20,301,905
Protested bills 43,683,419 43,683,419
Advance income tax 4,189,329,134 5,905,872,644
Claim against waiver of interest to Jute traders
for the period from July to December (1998) 897,200 897,200
Claims on wage earners bond 49,576,000 27,210,826
Fund placement to OBU 708,574,029 136,386,000
Electricity, Wasa, Gas Bill Receivable 1,489,557 -
Govt. Savings Instruments 5,084,728 -
Dividend Receivable on shares 31,678,243 -
Rent Receivable 10,948,800 -
6,274,795,009 8,037,693,247

Amount in Taka
2016 2015
10.03 Classification of other assets as per
Bangladesh Bank circular
Unclassified 8,039,776,292 9,741,551,565
Substandard - -
Doubtful 30,000,000 30,000,000
Bad or loss 38,957,186 44,553,000
8,108,733,478 9,816,104,565
10.04 Particulars of required provision for other

assets
Sub-standard - -
Doubtful 15,000,000 15,000,000
Bad or loss 38,957,186 44,553,000
Required provision 53,957,186 59,553,000
Provision maintained (Note- 13.06) 59,553,268 59,553,268
Provision surplus 5,596,082 268
11.00 Borrowings from other banks and financial
institutions
Borrowing from other Bank (Note-11.01) - 1,000,000,000
Re-Finance from Bangladesh Bank (Note-11.02) 988,412,867 389,304,955
988,412,867 1,389,304,955
11.01 Borrowing from Other Bank
BASIC Bank Limited - 1,000,000,000
- 1,000,000,000
11.02 Re- Finance from Bangladesh Bank
Re- finance against SME 4,354,286 4,354,286
Re-finance against SME (Women Entrepreneurs) 31,980,476 47,209,643
Re-finance against green products 49,411,770 29,761,026
Re-finance against uttaran taka 10 small/micro
loan scheme 13,926,750 10,180,000
Re-finance against brick kiln efficiency improvement 297,800,000 297,800,000
Re-finance against JICA FSPDSME Fund for
SME Entrepreneurship 9,795,000 -
Re-finance against EDF loan 581,144,585 -
988,412,867 389,304,955
11.03 Security against borrowings from other banks
and financial institutions
Secured 988,412,867 1,389,304,955
Unsecured - -
988,412,867 1,389,304,955

Amount in Taka
2016 2015
11.04 Maturity grouping of Borrowings from other

banks and financial institutions
Payable on demand - -
Upto 1 month - 1,000,000,000
Over 1 month but within 3 months 581,144,584 -
Over 3 months but within 1year 407,268,283 389,304,955
Over 1 year - -
988,412,867 1,389,304,955
12.00 Deposits and other accounts
Current deposit and other accounts etc.
Current Account Deposits 13,839,868,036 11,793,483,133
Special Notice Depsoits 9,811,235,079 8,053,120,180
Foreign Currency Deposits 152,280,450 243,022,303
Cash Credit and Loan Account Credit Balance 636,164,171 554,217,810
Q. Cash Card Holders A/c. - 152,967
Double Benefits Deposit Scheme 7,303,668,505 6,978,281,323
Monthly Deposit Scheme 12,149,529,540 10,461,495,469
Mashik Munafa Prokalpa 3,260,086,521 5,703,867,649
Uttaran Bibaha S. Prokalpa 185,061,254 126,138,818
Uttaran Swapnopuran S. Prokalpa 7,179,291,006 4,489,551,337
Uttaran Shikkhaya S. Prokalpa 496,956,081 354,819,731
School Banking Deposits 418,759,648 294,550,027
55,432,900,291 49,052,700,747
Bills payable
Drafts payable 118,389,900 177,699,258
Payment Order 3,672,137,096 2,231,370,112
Security Deposit Receipt 9,815,241 8,161,769
Bills Payable Other - -
3,800,342,237 2,417,231,139
Saving Banks Deposits 38,570,246,693 32,607,069,120
Fixed Deposits 34,749,521,874 36,223,695,876
Other Deposits 2,398,602,622 2,106,948,073
134,951,613,717 122,407,644,955

Amount in Taka
2016 2015
12.00.a Consolidated Deposit and other accounts

Uttara Bank Limited
Current deposit and other accounts etc. 55,432,900,291 49,631,550,700
Bills payable 3,800,342,237 2,417,231,139
Saving Banks Deposits 38,570,246,693 32,607,069,120
Fixed Deposits 34,749,521,874 36,223,695,876
Other Deposits 2,398,602,622 1,528,098,120
134,951,613,717 122,407,644,955
Less: Inter Company Elimination
Current deposit and other accounts etc. (9,364,271) (81,097,507)
Saving Banks Deposits (10,774,301) (368,762)
Fixed Deposits (198,196,902) (237,116,783)
(218,335,474) (318,583,052)
134,733,278,243 122,089,061,903
12.01 Sector wise deposits
Government 6,121,577,754 5,303,852,015
Deposit money Banks (Note- 12.02.1) 612,958,908 498,480,922
Foreign Currency Deposits 152,280,450 243,022,303
Private 128,064,796,605 116,362,289,715
134,951,613,717 122,407,644,955
12.02 Residual maturity grouping of deposits
including bills payable account
Deposit from Banks (Note- 12.02.1) 612,958,908 498,480,922
Deposit from other than Banks (Note-12.02.2) 134,338,654,809 121,909,164,033
134,951,613,717 122,407,644,955
12.02.1 Deposit from Banks
i) Maturity grouping wise
Payable on demand 2,309,812 13,463,704
Within one month 610,649,096 485,017,218
Over 1 month but within 6 months - -
Over 6 months but within 1 year - -
Over 1 year but within 5 years - -
Over 5 years but within 10 years - -
Over 10 years - -
612,958,908 498,480,922

Amount in Taka
2016 2015
ii) Category wise

In Current deposit accounts
Prime Bank Ltd. 169,116 170,766
Bank Asia Ltd. 146,212 147,862
State Bank of India 1,978,073 7,840,562
The Mercantile Bank Ltd. 15,261 16,411
Islami Bank (BD) Ltd. 1,150 2,300
HSBC - 5,285,803
2,309,812 13,463,704
In Special notice deposit accounts
Janata Bank Ltd. 73,777 72,801
Bank Asia Ltd. 112,929 2,193,960
HSBC - 247,591
State Bank of India 6,171,848 9,556,189
One Bank Ltd. 604,155,783 472,814,372
Bangladesh Commerce Bank Ltd. 128,017 124,498
South East Bank Ltd. 129 271
United Commercial Bank Ltd. 6,613 7,536
610,649,096 485,017,218
612,958,908 498,480,922
12.02 .2 Deposit from other than Banks
Maturity grouping wise
Payable on demand 3,800,342,237 2,417,231,139
Within one month 22,530,605,311 22,987,313,021
Over 1 month but within 6 months 33,897,636,027 30,433,062,216
Over 6 months but within 1 year 32,313,321,639 24,588,236,327
Over 1 year but within 5 years 39,665,449,072 39,602,783,003
Over 5 years but within 10 years 2,131,300,523 1,880,538,327
Over 10 years - -
134,338,654,809 121,909,164,033
13.00 Other liabilities
Provision for income tax (Note- 13.01) 7,238,600,669 8,925,630,077
Deferred Tax liability (Note- 13.02) 67,338,714 80,891,581
Benevolent fund 5,000,000 5,000,000
Employee's income tax payable 8,254,608 1,737,675
Govt. guarantee fund for special agri credit. 8,801,000 8,801,000
Fund for credit on Nath Bank (Pak) Ltd. 151,284 151,284
Balance of exchange houses 326,651,375 672,078,981
Reserve for unforeseen losses 67,252,926 56,252,926
Interim dividend payable 222,870 222,871
Audit fee payable 500,000 500,000
Advance deposit and advance rent. 34,800 -

Amount in Taka
2016 2015
Cash assistance 205,050 544,499

Bonus payable 230,000,000 160,000,000
Provision for loans and advances (Note- 13.03) 1,990,636,184 1,782,176,696
Provision for other (non-banking assets) (Note- 13.04) 20,252,000 20,252,000
General provision on off-balance sheet exposures
(Note- 13.05) 212,500,000 225,000,000
Provision for classified other assets (Note- 13.06) 59,553,268 59,553,268
Provision for classified fixed assets (Note- 13.07) 15,000,000 15,000,000
Interest suspense account (Note- 13.09) 1,166,917,430 1,137,152,503
Un-claimed dividend (Note- 13.10) 548,619,914 454,049,507
Provision for classified Investment (Note- 13.08) 11,704,000 11,704,000
Expenditure payable other 60,294,490 37,293,362
Provision for unreconciled outstanding entries
(Note- 13.14) 6,120,589 6,120,589
Clearing house adjustment (14,746,093) 1,217,845
SEDP fund mobilization account 5,585,831 5,585,831
Unearned Interest Income 41,740,056 54,545,005
Risk Fund (Lease A/c) 4,554,024 18,581,012
ATM Card ITCL payable A/c CW, BI & MS
(NPSB) 198,820 20,183
Wage Earner Fund Disposal A/c. 189,514,101 290,146,424
Wage Earner Bond 190,925,000 2,225,000
Branch adjustment Account (Note- 13.11) 17,808,813 9,120,223
Intt.payable on money at call & short notice - 69,444
Gratuity payable 120,000,000 -
Balance with agents & correspondents (Note- 13.12) 39,200,104 3,662,366
Payable to Government (Note- 13.13) 463,031,213 476,964,426
Interest payable on Borrowings of Off-Shore
Banking Unit - 867,398
Other Payable of Off-Shore Banking Unit - 12,071
Payable for Books, Forms &Vouchers 4,409,160 -
Unearned Interest Income -Rebate for Good
Borowers 20,000,000 -
POS transaction Commission ITCL Payable A/c. 391 -
13,126,832,591 14,523,130,047

Amount in Taka
2016 2015
13.00.a Consolidated other liabilities

UB Capital and Investment Ltd. 21,309,289 19,369,128
13,190,907,623 14,552,029,230
13.01 Provision for income tax
Opening balance 8,925,630,077 7,821,630,596
Provision for tax made during the year (Note -
13.01.01) 505,648,730 1,103,999,481
Settlement/adjustment made during the year (2,192,678,139) -
Closing balance 7,238,600,668 8,925,630,077
13.01.01 Provision for tax made during the year
Current year tax on taxable income 735,567,793 1,103,999,481
Adjustment for previous years (229,919,063) -
Closing balance 505,648,730 1,103,999,481
13.01.01.a Consolidated Provision for tax made during the year
Uttara Bank Limited 505,648,730 1,103,999,481
UB Capital and Investment Ltd. 1,934,162 3,082,304
Closing balance 511,679,410 1,109,179,952
13.01.02 During this year, the assessment of income tax has been settled with the tax authority for
the accounting years 2010 and 2012. Final assessment of income tax for the accounting
years 2008, 2011 & 2013 are pending with Appealate Authorities. The tax assessment of
the Bank for the years 2014 & 2015 have not yet been completed by the Deputy
Commissioner of Taxes.
13.02 Deferred tax liability
Opening balance 80,891,581 167,153,016
Deferred tax (income)/expense made during
the year (Note - 13.02.01) (13,552,867) (86,261,435)
Closing balance 67,338,714 80,891,581

Amount in Taka
2016 2015
13.02.1 Deferred tax (income)/expense made during the year

Carrying value of depreciable fixed assets 1,478,303,841 1,534,687,022
Tax base value (1,309,957,057) (1,332,458,069)
Net taxable liabilities 168,346,784 202,228,953
Tax Rate 40.00% 40.00%
Closing Deferred Tax Liability 67,338,714 80,891,581
Opening Deferred Tax Liability 80,891,581 167,153,016
(13,552,867) (86,261,435)
13.03 Provision for classified and unclassified loans and advances

The movement in specific provision on
classified loan and advances
Provision held at the beginning of the year 1,144,676,696 1,088,988,567
Fully provided debts written off (301,379,381) (1,240,973,583)
Specific provision for the year 391,500,000 1,265,500,000
Amount transferred from un-classified loans &
advances 37,500,000 -
Adjustment of written off amount - 2,161,712
Amount transferred from Off balance sheet exposures 15,000,000 29,000,000
Recoveries and provision no longer required - -
Amount transferred from Risk fund & Interest
suspense account 17,338,869 -
Net charge to profit and loss account - -
1,304,636,184 1,144,676,696
The movement in general provision on
unclassified loans & advances
Provision held at the beginning of the year 637,500,000 453,000,000
Amount transferred to classified loans and advance (37,500,000) -
General provision for the year 86,000,000 184,500,000
686,000,000 637,500,000
1,990,636,184 1,782,176,696

Amount in Taka
2016 2015
13.04 Provision for other (Non Banking Asset)
Opening balance 20,252,000 20,252,000
Provision made during the year - -
Closing balance 20,252,000 20,252,000
13.05 Provision for Off Balance Sheet Exposures
Balance at the beginning of the year 225,000,000 254,000,000
Provision made during the year 2,500,000 -
Amount transferred to Classified loans & advances (15,000,000) (29,000,000)
Closing balance 212,500,000 225,000,000
13.06 Provision for classified other assets
Opening balance 59,553,268 59,253,268
Amount transferred to profit and loss account - -
Provision made during the year - 300,000
Amount transferred from provision for
Investment - -
Closing balance 59,553,268 59,553,268
13.07 Provision for classified fixed assets
Opening balance 15,000,000 15,000,000
Provision made during the year - -
Closing balance 15,000,000 15,000,000
13.08 Provision for classified Investment
Opening balance 11,704,000 11,704,000
Amount transferred to classified other assets - -
Closing balance 11,704,000 11,704,000
13.09 Interest suspense
Opening balance 1,137,152,503 715,882,347
Addition during the year 360,705,839 451,846,598
Recovery during the year (11,209,994) (30,576,442)
Amount written off during the year (319,730,918) -
Closing balance 1,166,917,430 1,137,152,503
13.10 Un- claimed dividend
Un- claimed dividend '2003 4,111,668 4,348,893
Un-claimed Dividend '2010 91,742,534 94,135,886
Un-claimed Dividend '2015 108,778,249 -
548,619,914 454,049,507

Amount in Taka
2016 2015
13.11 Branch adjustment account (UBL General

Account) 17,808,813 9,120,223
Branch adjustment account represents outstanding inter-branch transactions and Head

office transactions (net) originated but yet to be responded on the balance sheet date. The
status of unresponded entries as on 31.12.2016.
No. of Un-responded Un-responded entries Net

Particulars entries (Tk.) amount
Dr. Cr. Dr. Cr. 2016
Upto 3 months 2 3 45,730 17,854,543 17,808,813
Over 3 months but
within 6 months - - - -
Over 6 months but
within 1 year - - - -
Over 1 year - - - -
Total 2 3 45,730 17,854,543 17,808,813
13.12 Balance with agents & correspondents

Foreign Amount in Convertion Amount in Taka
Name of the Bank currency foreign rate per as at
name currency unit FC 31-Dec-16 31-Dec-15
AB Bank Limited,
Mumbai ACU 191,388.00 78.70239 15,062,693 -
United Bank of India ACU 299,356.00 78.70230 23,560,007 -

Habib American Bank,
N.Y USD 4,050.00 78.70593 318,759 -
Commerz Bank AG,
Frankfurt EURO 3,157.86 81.90515 258,645 -
Westpac Banking
Corporation AUD - - - 3,662,366
39,200,104 3,662,366

Amount in Taka
2016 2015
13.13 Payable to Government

Three major categories of Government dues are reported. Tax deducted at source,
VAT and Excise duty payable to Government exchequer are as follow:
Excise duty payable 299,083,190 283,341,516
Tax deducted at source (TDS) 125,260,585 154,935,056
VAT deducted at source (VDS) 38,687,438 38,687,854
463,031,213 476,964,426
13.14 Provision for unreconciled outstanding entries

Opening balance 6,120,589 -
Transferred from branch adjustment A/c. - 335,839
Provision made during the year - 5,784,750
Closing balance 6,120,589 6,120,589
14.00 Share Capital
14.01 Authorised capital

600,000,000 Ordinary Shares of Tk.10 6,000,000,000 6,000,000,000
6,000,000,000 6,000,000,000
14.02 Paid up capital

400,080,337 Ordinary Shares of Tk. 10 each 4,000,803,370 4,000,803,370
4,000,803,370 4,000,803,370
14.03 Paid up capital as per shareholders category

2016 2015
Particulars No. of No. of
shares Percentage Amount shares Percentage Amount
Government
of the
People's 6,009 0.002% 60,090 6,009 0.002%
60,090
Republic of
Bangladesh
Directors/
50,356,426 12.587% 503,564,260 50,241,426 12.558%
Sponsors 502,414,260
Bank and
financial 105,561,048 26.385% 1,055,610,480 72,827,378 18.203%
728,273,780
institutions
Foreigner 5,875,279 1.468% 58,752,790
General
238,281,575 59.558% 2,382,815,750 277,005,524 69.237% 2,770,055,240
public
400,080,337 100.000% 4,000,803,370 400,080,337 100.000% 4,000,803,370

14.04 Range - wise shareholdings
2016 2015
Range of holding of Percentage Percentage
No. of No. of
Shares of Number of of Number of
share share
holding of shares holding of shares
holders holders
shares shares
Upto 500 31,248 1.16% 4,643,838 37,664 1.37% 5,458,755
501 - 10,000 19,704 10.62% 42,496,272 23,253 12.69% 50,784,957
10,001 - 20,000 931 3.16% 12,640,666 1,137 3.90% 15,596,461
20,001 - 30,000 273 1.62% 6,480,504 315 1.88% 7,505,004
30,001 - 40,000 117 1.02% 4,091,931 144 1.25% 4,989,575
40,001 - 50,000 82 0.92% 3,675,949 93 1.04% 4,176,571
50,001 - 100,000 165 2.96% 11,851,228 209 3.74% 14,973,253
100,001 - 1,000,000 190 13.95% 55,802,636 209 14.14% 56,586,208
Over 1,000,000 53 64.59% 258,397,313 59 59.99% 240,009,553
52,763 100.00% 400,080,337 63,083 100.00% 400,080,337
14.05 Capital to Risk-wighted Asset Ratio (CRAR) on the Bank:

The calculation of CRAR has been done as per Basel-III guideline December 2014 vide BRPD Circular No.18
dated 21 December 2014
A Tier-1 Capital (Going- 31-Dec-16 31-Dec-15

Concern Capital) Solo Consolidated Solo Consolidated
a Common Equity Tier-1
Fully Paid-up Capital 4,000,803,370 4,000,803,370 4,000,803,370 4,000,803,370
Statutory Reserve 4,330,837,039 4,330,837,039 4,030,837,039 4,030,837,039
General Reserve 835,633,339 835,633,339 435,633,339 435,633,339
Retained Earnings 1,594,311,652 1,653,013,656 1,563,724,910 1,609,461,093
Dividend Equalization
Reserve 64,427,000 64,427,000 64,427,000 64,427,000
Minority Interest - 39,523 - 38,744
Sub Total 10,826,012,400 10,884,753,927 10,095,425,658 10,141,200,586
Regulatory Adjustments: - - - -
Total Common Equity
Tier-1 Capital 10,826,012,400 10,884,753,927 10,095,425,658 10,141,200,586
b Additional Tier-1 Capital

Minority Interest
Others
Sub Total - - - -
Regulatory Adjustments: - - - -
Total Additional Tier-1
Capital Available - - - -
Total Tier-1 Capital (a+b) 10,826,012,400 10,884,753,927 10,095,425,658 10,141,200,586

31-Dec-16 31-Dec-15
Solo Consolidated Solo Consolidated
B Tier-2 Capital (Going-Concern

Capital)
General Provision 898,500,000 898,500,000 862,500,000 862,500,000
All Other preference shares
Subordinated debt
Minority Interest
Revaluation Reserves as on 31
December, 2016 1,262,396,959 1,262,396,959 1,376,741,644 1,376,741,644
Others
Sub Total 2,160,896,959 2,160,896,959 2,239,241,644 2,239,241,644
Regulatory Adjustments:
Revaluation Reserves for Fixed Assets,
Securities & Equity Securities 504,958,784 504,958,784 275,348,329 275,348,329
Investment in own T-2
Instruments/Shares
Others
Sub Total 504,958,784 504,958,784 275,348,329 275,348,329
Total Tier-2 Capital Available 1,655,938,175 1,655,938,175 1,963,893,315 1,963,893,315

Total Regulatory Capital 12,481,950,575 12,540,692,102 12,059,318,973 12,105,093,901
Total Risk Weighted Assets 93,259,407,984 92,374,514,866 95,595,510,627 94,846,428,214
Capital to Risk Weighted Assets Ratio 13.38% 13.58% 12.61% 12.76%
Common Equity Tier-1 to RWA 11.61% 11.78% 10.56% 10.69%
Tier-1 Capital to RWA 11.61% 11.78% 10.56% 10.69%
Tier-2 Capital to RWA 1.78% 1.79% 2.05% 2.07%
Minimum Capital Requirement (@ 10%) 9,325,940,798 9,237,451,487 9,559,551,063 9,484,642,821
Excess Capital Maintained (before

conservation buffer) 3,156,009,777 3,303,240,616 2,499,767,910 2,620,451,079
Minimum Capital Requirement (with

conservation buffer @ 10.625%) 9,908,812,098 9,814,792,204 10,157,023,004 10,077,432,998
Excess Capital Maintained (after

conservation buffer) 2,573,138,477 2,725,899,898 1,902,295,969 2,027,660,903

14.6 Particulars of Shareholdings of the Directors
31-Dec-16 31-Dec-15
Name of the Directors Status
No. of No. of
Amount Amount
Shares Shares
Mr. Azharul Islam Chairman 20,529,721 205,297,210 20,529,721 205,297,210
Vice-
Mr. Iftekharul Islam 11,952,323 119,523,230 11,952,323 119,523,230
Chairman
Mr. Syed A.N.M. Wahed Director 40,075 400,750 40,075 400,750
Engr. Tofazzal Hossain Director 40,075 400,750 40,075 400,750
Mr. Arif Rahman Director 8,004,150 80,041,500 8,004,150 80,041,500
Mr. Abul Barq Alvi Director 39,949 399,490 39,949 399,490
Independent
Dr. Md. Nazmul Karim Chowdhury - - - -
Director
Mr. M. Tajul Islam Director 19,870 198,700 19,870 198,700
Independent
Mr. Md. Kamal Akhtar - - - -
Director
Independent
Dr. Md. Rezaul Karim Mazumder - - - -
Director
Col. Engr. M.S. Kamal (Retd.) Director 40,074 400,740 40,074 400,740
Mr. Asif Rahman Director 9,682,850 96,828,500 9,571,850 95,718,500
Mr. Faruque Alamgir Director 3,339 33,390 3,339 33,390
Mr. Shaikh Abdul Aziz Director 4000 40000 - -
Managing
Mr.Mohammed Rabiul Hossain - - - -
Director
50,356,426 503,564,260 50,241,426 502,414,260

Amount in Taka
2016 2015
15.00 Statutory reserve
Balance brought forward 4,330,837,039 4,030,837,039
Addition during the year - 300,000,000
Balance carried forward 4,330,837,039 4,330,837,039
16.00 Other reserves
General reserve (Note- 16.01) 835,633,339 435,633,339
Assets revaluation reserve 1,919,528,511 1,919,528,511
Revaluation reserve A/c (Govt. Securities) 605,265,407 1,141,260,196
Dividend equalization reserve 64,427,000 64,427,000
3,424,854,257 3,560,849,046
16.01 General reserve
Balance brought forward 435,633,339 235,633,339
Transfer from profit & loss A/c 400,000,000 200,000,000
Balance carried forward 835,633,339 435,633,339
17.00 Surplus in profit and loss account
Retained earning (Note- 17.01) 63,564,235 60,842,240
Profit after tax and provision during the year 1,530,747,417 1,502,882,669
Profit before appropriation 1,594,311,652 1,563,724,909
Appropriation for the year:
Statutory reserve - 300,000,000
General reserve - -
- 300,000,000
Retained surplus 1,594,311,652 1,263,724,909
17.01 Retained earning
Opening balance 1,263,724,909 1,061,002,914
Issue of bonus share and cash dividend (800,160,674) (800,160,674)
Transferred to General reserve (400,000,000) (200,000,000)
Transferred to benevolent Fund - -
Closing balance 63,564,235 60,842,240
17.00.a Consolidated Surplus in profit and loss
account
Retained earning (Note- 17.00.a.1) 109,300,416 97,484,563
Profit before appropriation 1,653,013,655 1,609,461,090
Appropriation for the year:
Statutory reserve - 300,000,000
General reserve - -
- 300,000,000
Retained surplus 1,653,013,655 1,309,461,090

Amount in Taka
2016 2015
17.00.a.1 Consolidated Retained earning

Opening balance 1,309,461,090 1,097,645,237
Issue of bonus share and cash dividend (800,160,674) (800,160,674)
Transferred to General reserve (400,000,000) (200,000,000)
Transferred to benevolent Fund - -
Closing balance 109,300,416 97,484,563
18.00 CONTINGENT LIABILITIES 21,243,114,531 22,494,473,358

18.01 Acceptances and endorsements
IFBC on behlaf of Customers 3,571,900,263 3,607,693,138
IFBC on behlaf of Directors - -
IFBC on behlaf of Government - -
IFBC on behlaf of Others - -
3,571,900,263 3,607,693,138
18.02 Letter of guarantees
Letter of Guarantee on behalf of Customers 2,850,240,421 2,976,418,334
Letter of Guarantee on behalf of Directors - -
Letter of Guarantee on behalf of
Government - -
Letter of Guarantee on behalf of Bank &
Others
Letter of Guarantee on behalf of Financial
Institution 163,813,004 122,510,000
3,014,053,425 3,098,928,334
18.03 Irrevocable letters of credit
Letter of credit on behalf of Customers 9,253,553,996 6,479,436,682
Letter of credit on behalf of Directors - -
Letter of credit on behalf of Government 3,975,049,580
Letter of credit on behalf of Others - -
9,253,553,996 10,454,486,262
18.04 Bills for collection
Bills for collection on behlaf of Coustmers 5,403,606,847 5,333,365,624

Amount in Taka
2016 2015
PROFIT AND LOSS ACCOUNT ITEMS

19.00 Income
Interest income (Note - 19.01) 9,307,693,237 9,380,904,462
Dividend income (Note - 21.00) 119,373,800 81,249,554
Fee, commission and brokerage (Note - 22.01) 443,673,588 473,581,366
Gains less losses arising from dealing in
securities (Note - 21.00) 1,350,565,297 1,443,142,720
Gains less losses arising from investment in
securities (Note - 21.00) 2,607,141,241 3,155,553,507
Gains less losses arising from dealing in
foreign currencies (Note - 22.02) 328,592,466 266,621,133
Income from Non-banking assets (Note - 23.00) 3,548,397 -
Other operating income (Note - 23.00) 563,711,161 531,287,143
Profit less losses on interest rate changes - -
Total income 14,724,299,187 15,332,339,885
Expenses
Interest paid on deposits, fees, borrowings etc
(Note - 20.00) 5,849,588,270 6,493,048,808
Administrative expenses (Note - 20.03) 5,030,811,158 4,033,650,498
Charges on loan losses account 799,658,345 305,587,442
Depriciation on banking assets (Note - 32.01) 239,292,157 245,960,599
Other operating expenses (Note - 33.00) 302,105,977 277,387,073
Total expenses 12,221,455,907 11,355,634,420
Operating Profit 2,502,843,280 3,976,705,465
19.01 Interest income

Interest on Loans & Advances (Note-19.02) 8,388,066,130 9,188,192,518
Interest on Balances with other Banks or
Financial Institutions (Note-19.03) 801,560,039 107,389,556
Interest on Accounts with Foreign Banks 92,517,018 82,941,815
Income from Off-Shore Banking Unit (OBU) 25,550,050 2,380,573
9,307,693,237 9,380,904,462
19.01.a Consolidated Interest income
UB Capital and Investment Ltd. - -
Uttara Bank Securities Ltd. 1,017,405 53,191
9,308,710,642 9,380,957,653

Amount in Taka
2016 2015
19.02 Interest on Loans & Advances

Over draft 835,550,358 759,574,404
Packing Credit 5,546,440 7,646,102
Cash credit 4,465,962,137 5,016,966,306
Uttaran Small Business Loan 21,222,926 21,262,847
Nari Swanirbhor Rin Prokalpa 8,825,926 7,425,527
Staff Loan 193,916,048 181,905,046
Demand Loan 54,707,102 41,197,492
Project Finance 84,878,954 121,555,195
Consumer Credit 452,286,582 575,111,660
Agri Credit 177,494,491 161,577,266
Uttaran paribashbandhab loan 8,757,329 5,070,530
Uttaran taka 10 small/micro loan 1,115,792 378,550
Rural Credit 47,935 72,250
Lease financing 27,933,022 27,465,368
Export Developement Fund (EDF) 9,023,615 -
Loan against imported merchandise (LIM) 30,321,466 94,357,701
Loan against Trust Receipt (LTR) 381,567,150 467,542,493
Term Loan 1,227,191,494 1,217,271,296
Bills Purchased/Discounted/Negotiated 384,002,692 432,294,103
Advance Rent 2,881,378 1,833,546
Sundry Account 14,833,293 47,684,836
8,388,066,130 9,188,192,518
19.03 Interest on Balances with other Banks or Financial Institutions

Call Loans to Other Banks 97,196,264 83,243,306
Fixed Term Deposit with Other Banks 697,637,674 24,146,250
Fund Placements to Other Banks 5,457,372 -
Foreign Exchange Clearing A/c. 1,268,729 -
801,560,039 107,389,556
20.00 Interest paid on deposits and borrowing etc.
Interest on deposits (Note-20.01) 5,840,737,244 6,448,838,984
Interest on borrowings (Note-20.02) 6,254,360 36,104,576
Interest on foreign bank accounts 2,596,666 8,105,248
5,849,588,270 6,493,048,808
20.00.a Consolidated Interest paid on deposits and borrowing etc.
Less: Inter Company Elimination
UB Capital and Investment Ltd. (6,979,488) (10,008,878)
Uttara Bank Securities Ltd. (4,085,382) (11,902,352)
(11,064,870) (21,911,230)
5,838,523,400 6,471,137,578

Amount in Taka
2016 2015
20.01 Interest on deposits
Fixed deposit receipt 1,856,783,503 2,669,399,492
Mashik Munafa prokalpa 306,621,026 491,542,518
Double benefit deposit scheme 737,596,426 703,424,269
Monthly deposit scheme 1,229,632,231 1,041,191,042
Uttaran Bibaha Sanchaya Prokalpa 15,287,636 9,825,893
Uttaran Swapnopuran Sanchaya Prokalpa 562,524,429 352,098,469
Uttaran Shikkhaya Sanchaya Prokalpa 41,620,222 29,737,048
Savings Banks deposits 856,024,531 959,789,383
School Banking deposit 17,320,692 13,238,992
Special Notice Deposit 214,043,833 175,832,373
Foreign currency deposit 643,380 682,752
Other Deposits 2,639,335 2,076,753
5,840,737,244 6,448,838,984
20.02 Interest on Borrowings
Borrowing from Bangladesh Bank 4,704,777 3,662,581
Borrowing from Other Banks 1,549,583 32,441,995
6,254,360 36,104,576
20.03 Administrative expenses
Salary and allowances (excluding MD's salary,
allow. & fees) 4,265,168,864 3,281,247,675
Rent, taxes,insurance,electricity etc. 426,039,025 407,430,721
Legal expenses 22,984,646 23,181,538
Postage,stamp,telecommunication etc. 96,556,884 109,017,472
Stationery,printing,advertisements etc. 99,159,549 101,035,616
Managing Director's salary & allowances 13,584,887 14,843,180
Directors' fees 3,944,000 2,518,000
Auditors' fees 500,000 500,000
Repair and maintanance of Fixed Assets (Note-32.02) 73,011,157 66,518,122
Renovation and maintenance of Office (Note-32.03) 29,862,146 27,358,174
5,030,811,158 4,033,650,498
21.00 Income from investment
Interest on treasury bills/bonds 3,119,551,565 3,562,549,431
Interest on debenture 2,394,000 573,906
Interest on amortization of Govt. Securities (HFT & HTM) 30,349,346 181,119,678
Interest on Govt. securities (HFT & HTM) 135,477,734 89,607,328
Interest on subordinate bond 92,650,304 40,410,045
Interest on Commercial Paper 24,550,833 211,111
Dividend received on shares 119,373,800 81,249,554
Gain on sale of Govt. securities 1,350,565,297 1,443,142,720
Interest received on REPO and reverse REPO 8,683,346 72,564,598
Interest paid on treasury bond (157,011,383) (276,345,811)
Revaluation Loss on Govt. Securities (646,491,531) (437,138,560)
Interest paid on REPO and reverse REPO (44,879) (56,204,311)
Loss on sale of Govt. securities (2,968,094) (21,793,908)
4,077,080,338 4,679,945,781

Amount in Taka
2016 2015
21.00.a Consolidated Income from investment
Uttara Bank Securities Ltd. 18,290,797 -
4,095,371,135 4,679,945,781
22.00 Commission, exchange and brokerage
Commission Income (Note-22.01) 401,158,455 428,196,144
Exchange Gain/Loss (Note-22.02) 371,107,599 312,006,355
772,266,054 740,202,499
22.00.a Consolidated Commission, exchange and brokerage
Uttara Bank Limited 772,266,054 740,202,499
776,283,236 740,820,440
22.01 Commission Income
Commission on L/C Local 2,328,203 3,200,521
Commission on L/C Foreign 123,324,352 126,772,615
Commission on L/C Back to Back 19,765,511 25,977,280
Commission on IFBC/ILBC 33,935,725 38,759,993
Commission on Export Bill/Documents 16,437,411 17,439,169
Commission on BG Local 48,050,508 50,557,812
Commission on BG Foreign 2,624,121 5,089,890
Commission on Other Services 154,692,624 160,398,864
401,158,455 428,196,144
22.02 Exchange (Gain/Loss)
Exchange Gain on Foreign Bill Purchase 675,908 362,296
Exchange Gain on Foreign Currency 407,720,894 448,635,764
Exchange Gain on EDF 1,275 325,877
Exchange Gain on Demand Loan 2,248,831 1,671,185
Exchange Gain on Others 39,595,888 43,025,864
Exchange Loss on Foreign Currency (79,128,428) (182,014,631)
Exchange Loss on Others (6,769) -
371,107,599 312,006,355
23.00 Other operating income
Postage, Telephone and Telegram charges recovered 8,737,096 8,820,772
Swift, Telex/Fax charges recovered 46,410,909 19,930,930
Rent recovered 36,423,056 28,345,015
Income from Foreign Correspondents 43,710,584 63,659,156
Income on sale of Bank's Assets 2,790,257 313,654
Income on sale of Non Banking Assets 3,548,397 -
Income on Risk Fund on Lease 2,795,390 803,761
Service charges related to trade operations/Fee
based income (Note- 23.01) 382,442,296 353,722,074
Other earnings 39,209,956 55,669,801
Other operating income of Off Shore Banking Unit 1,191,617 21,980
567,259,558 531,287,143

Amount in Taka
2016 2015
23.00.a Consolidated other operating income
567,358,738 531,427,781
Less: Inter Company Elimination (2,638,325) (2,640,811)
564,720,413 528,786,970
23.01 Service charges related to trade operations/Fee based income
Accounts maintenance charges recovered 190,308,514 179,740,757
Service fees on Loans & Advances and others 73,930,058 104,769,374
Cost of LC application form recovered 11,245,266 9,858,860
Income from SMS banking services 82,806,813 38,371,000
Prize money on Prize Bond/ Commission on
Lottery Tickets 31,561 63,916
Student file opening & renewal fees 95,000 25,000
CIB collection fees 637,492 597,957
Cost of MICR/Non MICR chque recovered 21,882,782 19,504,659
ATM Card issuance & renewal fees 1,504,810 790,551
382,442,296 353,722,074
24.00 Salary and allowances (excluding MD's salary, allowances & fees)
Basic salary 1,340,839,936 941,211,248
House rent allowances 807,519,418 641,122,949
House maintenance allowances 8,769,520 6,592,880
Conveyance allowances 244,416,705 194,462,206
Medical allowances 195,282,874 153,953,892
Contributory Providend Fund 134,141,875 93,946,491
Bonus to employees (Festival & Incentive) 599,368,647 490,990,300
Gratuity 480,000,000 360,000,000
Other allowances 454,829,889 398,967,709
4,265,168,864 3,281,247,675
24.00.a Consolidated salary and allowances (excluding MD's salary, allowances & fees)
4,270,352,918 3,285,006,064
25.00 Rent, taxes, insurance, electricity etc.
Rent (Branch offices) 186,568,189 172,168,366
Rent (Godown & Garage) 7,114,109 7,082,183
Rates & taxes 46,321,965 49,327,566
Insurance charge 87,501,886 85,650,566
Electric fittings & Fixation 8,855,163 12,529,647
Utility bill 88,619,499 79,775,955
Other charges 1,058,214 896,438
426,039,025 407,430,721

Amount in Taka
2016 2015
25.00.a Consolidated Rent, taxes, insurance, electricity etc.
UB Capital and Investment Ltd. 202,332 182,856
426,456,457 407,792,734
26.00 Legal expenses
Lawyer charges 6,849,010 7,319,395
Court fees and other expenses 16,135,636 15,862,143
22,984,646 23,181,538
26.00.a Consolidated Legal expenses
UB Capital and Investment Ltd. - 43,000
Uttara Bank Securities Ltd. - -
22,984,646 23,224,538
27.00 Postage, stamp and telecommunication
Postage & telegram/telex etc. 5,904,114 6,168,673
Fax 545 2,850
Stamps 12,435 25,466
Telephone (office) 8,419,194 11,187,153
Telephone (residence) 471,702 636,797
SWIFT 10,160,403 9,770,166
Internet/E-mail 4,151,379 5,324,994
Data/Bandwidth Connectivity 59,747,678 67,898,978
Reuter/SMS Notification Services 5,257,090 5,350,062
Courier 2,313,834 2,546,306
Dish Cable 118,510 106,027
96,556,884 109,017,472
27.00.a Consolidated Postage, stamp and telecommunication
96,805,072 109,271,399
28.00 Stationery, printing, advertisement etc.
Stationery 16,629,228 18,890,573
Computer accessories 25,226,968 21,596,942
Printing and stationery 19,545,741 20,760,359
Consumption of books & forms 10,151,024 11,963,338
Advertisement 19,214,257 20,872,721
MICR cheque issue 8,392,331 6,951,683
99,159,549 101,035,616
28.00.a Consolidated Stationery, printing, advertisement etc.
UB Capital and Investment Ltd. 680 1,115
99,232,770 101,251,828

Amount in Taka
2016 2015
29.00 Managing Director's salary & allowances and Fees

Salary & allowances and fees 13,584,887 14,843,180
13,584,887 14,843,180
30.00 Directors' Fees 3,944,000 2,518,000
30.00.a Consolidated Directors' Fees

4,038,000 2,598,000
31.00 Auditors' fees
Statutory annual audit fees 500,000 500,000
31.00.a Consolidated auditors' fees
Uttara Bank Limited 500,000 500,000
525,000 525,000
32.00 Repair, maintenance and depreciation of Bank's property
Depreciation on Fixed Assets (Note - 32.01) 239,292,157 245,960,599
Repair & maintenance of Fixed Assets (Note - 32.02)73,011,157 66,518,122
Renovation & maintenance of Office (Note - 32.03) 29,862,146 27,358,174
342,165,460 339,836,895
32.00.a Consolidated Repair, maintenance and depreciation of Bank's property
Depreciation on Fixed Assets (Note - 32.01.a) 241,088,872 246,540,433
Repair & maintenance of Fixed Assets (Note - 32.02) 73,011,157 66,518,122
Renovation & maintenance of Office (Note - 32.03.a) 29,888,768 27,482,046
343,988,797 340,540,601
32.01 Depreciation of fixed assets
Furniture and fixtures 39,267,587 35,834,468
Vehicles 20,973,346 21,044,005
Office appliance 121,377,186 126,274,062
Bank premises 24,131,845 24,671,274
Software 33,542,193 38,136,790
239,292,157 245,960,599

Amount in Taka
2016 2015
32.01.a Consolidated Depreciation of fixed assets
Uttara Bank Ltd. 239,292,157 245,960,599
241,088,872 246,540,433
32.02 Repair & maintenance of Fixed Assets
Furniture & Fixtures 5,291,542 6,468,334
Vehicles 10,191,191
9,966,127
Office Appliance 21,817,161 24,763,247
Software 35,936,327 25,095,350
73,011,157 66,518,122
32.03 Renovation & maintenance of Office
Office Renovation (Own & Rented) 1,129,554 570,732
Office Maintenance (Own & Rented) 24,018,899 21,416,165
Lift maintenance expenses 1,526,142 1,812,780
ATM Booth & Software maintenance 1,453,077 1,132,125
Other Maintenance 1,734,474 2,426,372
29,862,146 27,358,174
32.03.a Consolidated Renovation & maintenance of Office
Uttara Bank Ltd. 29,862,146 27,358,174
29,888,768 27,482,046
33.00 Other expenses
Newspaper, Books & periodicals 2,347,902 2,477,319
Professional expenses 390,160 360,891
Sanitation cost 4,306,338 4,144,809
Entertainment 31,109,555 29,265,583
Consumption of fuel & other charges for 61,573,214
Vehicles 56,186,241
Donation & Subcriptions 2,848,805 3,018,223
Corporate Social Responsibility (CSR) 28,417,769 33,744,500
Honorarium & awards 30,312,758 453,499
Travelling expenses 36,624,156 32,042,918
Conveyance 24,964,002 27,275,327
Staff training expenses 5,026,101 7,470,168
Liveries & Uniforms 6,292,785 2,313,970

Amount in Taka
2016 2015
Promotional/Business development expenses 10,743,775 15,702,364

Staff Welfare and Recreation 15,199,933 8,985,196
Benevolent Fund 5,000,000 5,000,000
Loss on sale of Fixed Assets 2,805,367 1,061,663
Photocopy expenses 4,562,900 4,946,806
Remittance charges 16,278,691 16,976,262
Branch opening and shifting expenses 1,329,763 5,905,454
Gun licence fees 2,173,052 682,797
Excise Duty on Bank's account 1,812,510 188,430
CDBL expenses 114,800 1,406,909
AGM expenses 4,448,293 3,483,802
CIB reporting expenses 1,250,950 790,250
BO accounts maintenance fees 1,200,000 600,000
NPSB expense 456,847 160,410
Misc. expenses 5,902,524 7,356,309
302,105,977 277,387,073
33.00.a Consolidated other expenses
303,333,521 277,752,139
34.00 Provision for loans & advances and off balance sheet exposures
For classified loans and advances 391,500,000 1,265,500,000
For unclassified loans and advances 86,000,000 184,500,000
For off balance sheet exposures 2,500,000 -
480,000,000 1,450,000,000
35.00 Provision for Others
Clearing house adjustment - 300,000
Unreconciled outstanding entries - 5,784,750
- 6,084,750
36.00 Payments for other operating activities

Closing other operating expenditure payable 23,174,847 27,101,306
Other operating expenditure paid (1,126,387,600) (608,112,390)
Opening other operating expenditure payable (27,101,306) (23,561,772)
(1,130,314,059) (604,572,856)

Amount in Taka
2016 2015
36.00.a Consolidated Payments for other operating activities

Closing other operating expenditure payable 23,263,168 27,101,306
Other operating expenditure paid (1,127,734,144) (609,084,075)
Opening other operating expenditure payable (27,101,306) (23,561,772)
(1,131,572,282) (605,544,541)
37.00 Increase/ (decrease) of other assets
Opening Other Assets (including Non
Banking Assets) 9,887,016,649 8,894,235,979
AIT, IT & Upfront Tax paid (6,554,761,900) (5,788,126,686)
Interest accrued on investment but not collected (833,080,702) (1,076,787,423)
Interest receivable on loans and advances (25,940,499) (21,954,533)
2,473,233,548 2,007,367,337
Closing Other Assets (including Non

Banking Assets) 8,177,675,292 9,887,016,649
Interest accrued on investment but not collected (820,112,428) (833,080,702)
Dividend receivable on shares (31,678,243) -
2,274,096,104 2,473,233,548
199,137,444 (465,866,211)
37.00.a Consolidated Increase/ (decrease) of other assets
Opening Other Assets (including Non
Banking Assets) 9,630,544,262 8,630,397,346
Interest accrued on investment but not collected (833,080,702) (1,077,989,368)
2,194,667,754 1,727,959,992
Closing Other Assets (including Non

Banking Assets) 7,944,881,136 9,630,544,262
Interest accrued on investment but not
collected (820,112,428) (833,080,702)
Dividend receivable on shares (32,098,243) -
2,012,390,219 2,194,667,754
182,277,535 (466,707,762)

Amount in Taka
2016 2015
38.00 Increase/ (decrease) of other liabilities
Closing Other Liabilities (including
Revaluation Reserve on Govt. Securities -
HFT & HTM) 13,749,436,867 15,664,390,243
Borrowings from Other Banks, Financial
Institution and Agents 988,412,866 1,389,304,955
Other Payable (10,586,119,825) (11,782,740,525)
4,151,729,908 5,270,954,673
Opening Other Liabilities (including
HFT & HTM) 15,664,390,243 14,046,772,364
Institution and Agents 1,389,304,955 2,068,330,312
Other Payable (11,782,740,525) (10,402,382,042)
5,270,954,673 5,712,720,634
(1,119,224,765) (441,765,961)
38.00.a Consolidated Increase/ (decrease) of other liabilities
Closing Other Liabilities (including
HFT & HTM) 13,813,511,898 15,693,289,424
Institution and Agents 988,412,866 1,389,304,955
Other Payable (10,622,671,265) (11,809,386,911)
4,179,253,499 5,273,207,468
Opening Other Liabilities (including

HFT & HTM) 15,693,289,424 14,068,728,788
Institution and Agents 1,389,304,955 2,068,330,312
Other Payable (11,809,386,911) (10,423,847,957)
5,273,207,468 5,713,211,143
(1,093,953,969) (440,003,675)
39.00 Closing Cash and Cash equivalents
Balance with Bangladesh Bank and its agent Banks
(Including foreign currencies) 10,241,301,021 9,891,998,568
Balance with Other Banks and Financial Institutions 23,268,735,335 8,444,660,646
36,037,863,207 20,900,291,187

Amount in Taka
2016 2015
39.00.a Consolidated Closing Cash and Cash equivalents
Balance with Bangladesh Bank and its agent Banks
(Including foreign currencies) 10,241,301,021 9,891,998,568
Balance with Other Banks and Financial
Institutions 23,302,722,071 8,447,162,788
36,071,861,563 20,902,816,984
40.00 Earning per Share (EPS)
Number of ordinary shares outstanding 400,080,337 400,080,337
Earning per Share (EPS) 3.83 3.76
40.00.a Consolidated Earning per Share (EPS)
Number of ordinary shares outstanding 400,080,337 400,080,337
Earning per Share (EPS) 3.86 3.78
Earning per Share has been calculated in accordance with BAS-33: "Earning per Share''
(EPS) and also calculated based on new number of shares as on 31.12.2016.
41.00 Restatements
Whereever considered necessary previous year's figures have been rearranged for the
purpose of comparison with current period’s presentation without any impact on the
profit and value of assets and liabilities as reported in the financial statements.
42.00 Workers Profit Participation Fund (WPPF)
Consistent with industry practice and in line with section 11(1) of the Bank Company Act
1991 (amendment upto 2013), no provsion has been made by the Bank in the reporting
period against Workers Profit Participation Fund (WPPF).
43.00 Events after the Balance Sheet date
The Board of Directors of the Bank in its 637 th Meeting held on 12 April 2017 has
recommended Cash Dividend @ 20% per ordinary share (i.e. Tk. 2 against each ordinary
shares of Tk. 10) on the holding of shares on the record date 4 May 2017 for the year
2016. The amount of recommended cash dividend is Tk. 800,160,674.
44.00 Approval of Financial Statements
The Financial Statements were approved by the Board of Directors in its 611th meeting
held on 12 April 2017.

Financial Highlights on the overall activities of the Bank as at 31
December 2016
Amount in Taka
Sl. Year
Particulars Indicator
No. 2016 2015
1 Paid up Capital Taka 4,000,803,370 4,000,803,370
2 Total Capital (Tier -I+II) Taka 12,481,950,575 12,059,318,973
Capital surplus/(Deficit) after conservation
3 Taka 2,573,138,477 1,902,295,969
buffer
4 Total Assets Taka 162,417,665,493 151,476,294,321
5 Total Deposits Taka 134,951,613,717 122,407,644,955
6 Total Loans & Advances Taka 83,311,088,400 75,806,888,472
Total Contingent Liabilities and
7 Taka 21,243,114,531 22,494,473,358
Commitments
8 Advance Deposit Ratio % 61.73% 61.93
Percentage of Classified Loans against total
9 % 7.75 8.27
Loans & Advances
10 Profit after tax & provision Taka 1,530,747,417 1,502,882,669
Amount of classified loans during current
11 Taka 5,464,300,000 5,241,600,000
year
12 Provision kept against classified loans Taka 1,304,636,184 1,144,676,696
13 Provision surplus /(deficit) Taka 63,873,221 101,801,452
14 Cost of Fund % 4.58 5.58
15 Interest Earning Assets Taka 131,333,102,607 119,593,464,071
16 Non-interest Earning Assets Taka 31,084,562,886 31,882,830,250
17 Return on Investment (ROI) % % 12.90 11.32
18 Return on Assets (ROA)% % 0.94 0.99
19 Investment Income Taka 4,077,080,338 4,679,945,781
20 Earnings Per Share (EPS) Taka 3.83 3.76
21 Net Income per Share Taka 3.83 3.76
22 Price Earning Ratio (Times) Times 6.45 6.04

Annexure – A
Balance with other Banks and Financial Institutions Outside Bangladesh

(Nostro Accounts)
Name of the Bank Foreign Amount in Convertion 2016 2015

currency foreign rate per Taka Taka
name currency unit FC
ICICI Bank Ltd. Kolkata ACU 108,711.27 78.7022 8,555,816 13,676,506

Standard Chartered Bank, Nepal ACU 35,999.50 78.7022 2,833,240 706,463
Nepal Bank Ltd, Kathmandu ACU 7,322.56 78.7023 576,302 574,823
Bank of Ceylon, Colombo ACU 10,603.72 78.7022 834,536 1,827,387
Bank of Bhutan, Thimpu ACU 587,854.28 78.7022 46,265,425 26,541,869
Standard Chartered Bank, India ACU 144,333.42 78.7022 11,359,358 19,763,032
Mashreq Bank, Mumbai ACU 161,560.81 78.7022 12,715,191 3,672,860
Habib Metropolitan Bank Ltd., Karachi ACU 229,876.64 78.7022 18,091,797 5,161,902
Sonali Bank Kolkata ACU 150,248.84 78.7022 11,824,914 3,751,503
A.B.Bank Mumbai, India ACU - - - 1,730,790
United Bank of India ACU - - - 24,709,848
Habib Bank AG Zurich CHF 24,757.47 76.5139 1,894,290 4,410,332
Standard Chartered Bank, PLC, GMBH EUR 7,600.00 81.9071 622,494 978,652
Unicredito Italiano, SPA, Milano EUR 32,354.50 81.9054 2,650,008 12,949,976
Unicredit Bank AG EUR 5,334.68 81.9054 436,939 2,418,645
Alpha Bank AE, Athens EUR 44,142.91 81.9054 3,615,542 8,450,813
Natexis Banques Populaires EUR 14,525.11 81.9053 1,189,684 1,294,897
Commerz Bank AG, Frankfurt EUR - - - 27,823,191
Sonali Bank (UK) Ltd. London GBP 490.00 96.2061 47,141 1,103,372
Standard Chartered Bank, London GBP 251,418.88 96.2056 24,187,897 49,230,173
Standard Chartered Bank, Singapore SGD 9,187.49 54.2438 498,364 1,422,508
Wells Fargo Bank NA.NY USD 3,014,669.98 78.7022 237,261,160 268,544,239
Standard Chartered Bank, New York USD 131,140.47 78.7022 10,321,044 78,304,388
Commerz Bank AG, Frankfurt USD 178,097.00 78.7022 14,016,626 15,995,537
Mashreq Bank PSC, N.Y USD 500,070.70 78.7022 39,356,664 21,298,901
Mashreq Bank,NY,USA (OBU) USD 52,036.99 78.7022 4,095,426 899,997
Kookmin Bank USD 45,604.41 78.7022 3,589,167 1,544,133
HSBC Ltd.,New York USD - - - -
Habib American Bank, New York USD - - - 82,232,101
Standard Chartered Bank, PLC, Tokyo JPY 7,171,859.00 0.6711 4,813,175 5,583,233
The Bank of Tokyo Mitsubishi Ltd.Tokyo JPY 1,661,759.00 0.6711 1,115,239 2,368,575
Estpac Banking Corporation AUD 40,221.92 56.4767 2,271,601
Total 465,039,040 688,970,646

of
OFF-SHORE BANKING UNIT

UTTARA BANK LIMITED (OFF-SHORE BANKING UNIT)
Balance Sheet
as at 31 December 2016
2016 2015
Notes
USD BDT USD BDT
PROPERTY AND ASSETS
Cash
Cash in hand (Including foreign currencies) - - - -
Balance with Bangladesh Bank and its Agent Bank(s)
(Including foreign currencies) - - - -
Balance with other Banks and Financial
Institutions 3.00 - - - -
In Bangladesh - - - -
Outside Bangladesh 52,037 4,095,426 11,472 899,997
52,037 4,095,426 11,472 899,997
Money at call on short notice - - - -
Investments
Government - - - -
Others - - - -
- - - -
Loans, Cash Credit, Overdrafts etc. - - - -
Bills Purchased & Discounted 8,906,864 707,779,505 1,749,451 136,424,822
8,906,864 707,779,505 1,749,451 136,424,822
Fixed assets including Land, Building,
Furniture and Fixtures - - - -
Other Assets 5.00 246,581 19,398,393 29,603 2,306,113
Non-Banking Assets - - - -
TOTAL ASSETS 9,205,482 731,273,324 1,790,526 139,630,932
LIABILITIES AND
CAPITAL/SHAREHOLDERS’ EQUITY
Liabilities
Financial Institutions and Agents 6.00 8,916,864 708,574,029 1,758,953 137,170,927
Deposits and other accounts
Current and other accounts - - - -
Bills payable - - - -
Saving bank deposits - - - -
Fixed deposits - - - -
Other deposits - - - -
- - - -
Other Liabilities 7.00 215,999 16,999,535 11,293 879,469
TOTAL LIABILITIES 9,132,863 725,573,564 1,770,246 138,050,396
CAPITAL/SHARE HOLDERS' EQUITY
Paid up capital - - - -
Statutory reserve - - - -
Other reserves - - - -
Surplus in profit and loss account 72,619 5,699,760 20,280 1,580,536
Total Capital/Shareholders’ Equity 72,619 5,699,760 20,280 1,580,536
TOTAL LIABILITIES AND
CAPITAL/SHARE HOLDERS' EQUITY 9,205,482 731,273,324 1,790,526 139,630,932

Balance Sheet
as at 31 December 2016
2016 2015
Notes
USD BDT USD BDT
Contingent Liabilities
Acceptances & Endorsements - - - -
Letters of Guarantee - - - -
Irrevocable Letters of Credit - - - -
Bills for Collection - - - -
Other Contingent Liabilities - - - -
- - - -
Other Commitments
trade related transactions - - - -
deposits placed - - - -
underwriting facilities - - - -
credit lines and other commitments - - - -
Total Other Commitments - - - -
Total Off-Balance Sheet Items
(Including Contingent Liabilities &
Othr Commitments) - - - -

Profit and Loss Account
for the year ended 31 December 2016
2016 2015
Notes
USD BDT USD BDT
Operating income
Interest income 8.00 316,307 24,894,078 30,143 2,349,620
Interest paid on deposits and
borrowings etc. 9.00 175,188 13,787,662 12,976 1,012,704
Net interest income 141,119 11,106,416 17,167 1,336,916
Investment income - - - -
Commission, exchange and
brokerage 10.00 8,335 655,971 1,516 118,195
Other operating income 11.00 15,141 1,191,617 1,752 137,496
Total operating income 164,595 12,954,004 20,435 1,592,607
Operating expenses
Salary and allowances 20,396 1,605,180 - -
Rent, taxes, insurance, electricity etc. 1,494 117,600 - -
Legal expenses - - - -
Postage, stamp, telecommunication etc. 51 4,000 - -
Stationery, Printings, Advertisements etc. 102 8,000 - -
Chief Executive's salary and fees - - - -
Directors' fees - - - -
Auditors' fees - - - -
Charges on loan losses - - - -
Depreciation and repair of bank's assets - - - -
Other expenses - - 155 12,071
Total operating expenses 22,043 1,734,780 155 12,071
Profit before provision 142,552 11,219,224 20,280 1,580,536
Provision for loan

Provision for loans and advances 90,213 7,100,000 - -
Provision for other - - - -
90,213 7,100,000 - -
Profit before taxes 52,339 4,119,224 20,280 1,580,536
Provision for taxation
Current tax - - - -
Deferred tax - - - -
- - - -
Net profit after taxation 52,339 4,119,224 20,280 1,580,536
Retained earnings brought forward 20,280 1,580,536 - -
Retained earnings carried forward 72,619 5,699,760 20,280 1,580,536

Cash Flow Statement
for the year ended 31 December 2016
2016 2015
Notes
USD BDT USD BDT

Interest receipts in cash 165,511 13,010,808 1,838 145,306
Interest payments (82,583) (6,490,306) (1,838) (145,306)
Fee and commission receipts in cash 5,061 398,185 1,366 106,514
Cash paid to employees - - - -
Cash paid to suppliers - - - -
Receipts from other operating activities 11,431 899,575 1,472 115,516
Payments for other operating activities (155) (12,071) - -
Operating profit before changes in
operating assets and liabilities 99,265 7,806,191 2,838 222,030
Increase/ (decrease) in operating assets and
liabilities (58,700) (4,610,763) 8,634 677,967
Loans and advances to customers (other than (7,157,413) (571,354,684) (1,749,451) (136,424,822)
Banks)
Other assets (59,198) (4,659,180) (868) (68,138)
Other liabilities 7,157,911 571,403,102 1,758,953 137,170,927
Net cash received from/ (used in) operating
activities 40,565 3,195,429 11,472 899,997
Net cash received from/ (used in) investing
activities - - - -
Net cash received from/ (used in) financing
activities - - - -
D. Net Increase/ (decrease) in cash & cash

equivalents (A+B+C) 40,565 3,195,429 11,472 899,997
E. Effects of exchange rate changes on cash
and cash equivalents - - - -
F. Opening Cash and Cash equivalents 11,472 899,997 - -
G. Closing Cash and Cash equivalents
(D+E+F) 52,037 4,095,426 11,472 899,997
H. Closing Cash and Cash equivalents
Cash in hand (including foreign currencies) - - - -
Balance with bangladesh bank & its agent
banks (including foreign currencies) - - - -
Balance with other banks and financial
institutions 52,037 4,095,426 11,472 899,997
52,037 4,095,426 11,472 899,997

UTTARA BANK LTD. (OFF-SHORE BANKING UNIT)
Notes to the Financial Statements
as at and for the year ended 31 December 2016
1.0 Status of the Unit
Off-shore Banking Unit is a separate business unit of Uttara Bank Limited, governed under the Rules and
Regulations of Bangladesh Bank. The Bank obtained the permission to operate Off-shore Banking Unit
(OBU) vide letter no. BRPD(P-3)744(123)/2015-2062 dated March 23, 2015. The Bank started the operation
of OBU on July 06, 2015. Presently the Bank has operate 1 (one) Off-shore Banking Unit (OBU) located at
Head Office, International Division, Dhaka.
1.1 Nature of Business
The principal activities of the Unit are to provide all kind of Banking Business in accordance with Bangladesh
Bank's rules and regulations for operating Off-shore Banking Unit in Bangladesh.
2.0 Significant accounting policies and bases of preparation of financial statements
2.1 Basis of accounting
The Financial Statements of the Unit as at and for the year ended December 31, 2016 have been prepared
under the historical cost convention and in accordance with Bangladesh Financial Reporting Standards
(BFRSs), the First Schedule (Section - 38) of the Banking Companies Act 1991, as amended by
Bangladesh Bank vide BRPD circular no. 14 dated 25 June 2003, other Bangladesh Bank circulars, the
Companies Act 1994, the Securities and Exchange Rules 1987 and other rules and regulations applicable
in Bangladesh.
2.2 Use of estimates and judgments
The preparation of financial statements requires management to make judgment, estimates and
assumptions that affect the application of accounting policies and the reported amounts of assets,
liabilities, income and expenses. Actual expenses may differ from these estimates.
2.3 Foreign Currency transaction
The functional currency of OBU's is US Dollar. While the financial statements are presented both in USD and
equivalent in Bangladesh Taka. Transactions in foreign currencies are recorded in the functional currency at
the rate of exchange prevailing on the date of the transactions. Foreign currency assets and liabilities are
translated into functional currency at the rate of exchange prevailing at the date of balance sheet.
2.3 Cash Flow Statement
Cash Flow Statement has been prepared in accordance with the Bangladesh Accounting Standard (BAS) -
7, "Cash Flow Statement" under Direct method as recommended in the BRPD circular no. 14 dated 25 June
2003 issued by the Banking Regulation and Policy Department of Bangladesh Bank.
2.4 Assets and basis of their valuation
2.4.1 Loans and Advances
Loans and Advances of Off-shore Banking Unit (OBU) are stated in the Balance Sheet on gross basis.
Interest is calculated on a daily product basis but charged and accounted for on the accrual basis. Interest is
not charged on bad and loss loans as per guidelines of Bangladesh Bank. Records of such interest amounts
are kept in separate memorandum accounts.
2.5 Revenue recognition
2.5.1 Interest Income
In terms of the provisions of the BAS - 18 "Revenue", the interest income on loans and advances is
recognized on the accrual basis.
2.5.2 Interest paid on deposits and borrowings
Interest paid on deposits, borrowings etc. are accounted for on accrual basis.
2.5.3 Fees and Commission Income
Fees and Commission Income arising from different services provided by the Units are recognized as
and when received basis.
2.6 General
Figures appearing in these financial statements have been rounded off to the nearest Taka. These
financial statements cover from January 01 to December 31, 2016.

2016 2015
Notes
USD BDT USD BDT
3.00 Balance with other banks and financial institutions

In Bangladesh (Note - 3.01) - - - -
Outside Bangladesh (Note - 3.02) 52,037 4,095,426 11,472 899,997
52,037 4,095,426 11,472 899,997
3.01 In Bangladesh - - - -
3.02 Outside Bangladesh
Mashreq Bank, New York, USA (OBU) 52,037 4,095,426 11,472 899,997
4.00 Loans and Advances
Loans, Cash Credit, Overdraft etc. - - - -
Bills purchased & discounted 8,906,864 707,779,505 1,749,451 136,424,822
8,906,864 707,779,505 1,749,451 136,424,822
5.00 Other Assets
Interest Receivable on Bills purchased & 179,101 14,087,584 28,305 2,204,314
discounted
Reimbursement Charge Receivable 3,424 269,468 150 11,681
Receivable from Nostro Account - - 868 68,138
Suspenses A/c 60,066 4,727,319 - -
Income Receivable from Reimbursing Bank 3,990 314,022 280 21,980
246,581 19,398,393 29,603 2,306,113
6.00 Borrowings from other Banks, Financial
Institutions and Agents
In Bangladesh 8,916,864 708,574,029 1,758,953 137,170,927
Outside Bangladesh - - - -
8,916,864 708,574,029 1,758,953 137,170,927
7.00 Other Liabilities
Interest Payable on Borrowings 103,743 8,164,755 11,138 867,398
Expenditure Payable 22,043 1,734,780 - -
Bill Collection Fee Payable - - 155 12,071
Provision for Unclassified loans & 90,213 7,100,000 - -
advances
215,999 16,999,535 11,293 879,469
8.00 Interest income
Interest on Loans and Advances 316,307 24,894,078 30,143 2,349,620
316,307 24,894,078 30,143 2,349,620
9.00 Interest paid on deposits and borrowings etc.
Interest paid on borrowings 175,188 13,787,662 12,976 1,012,704
175,188 13,787,662 12,976 1,012,704
10.00 Commission, exchange and brokerage
Reimbersement charge recovered 8,335 655,971 1,516 118,195
8,335 655,971 1,516 118,195
11.00 Other operating income
Income from Reimbursing Bank 15,141 1,191,617 1,752 137,496
15,141 1,191,617 1,752 137,496

CORPORATE SOCIAL RESPONSIBILITY (CSR)
CSR is a process with the aim to embrace responsibility for the Bank's actions and encourage a
positive impact through its activities on the environment, customers, employees, communities,
stakeholders and all other members of the public sphere. CSR is used as a framework for
measuring an organization's performance against economic, social and environmental
parameters. Uttara Bank Limited believes, it is about building sustainable business, which needs
healthy economies, communities and friendly environments.
Employees:
The Bank’s business is dynamic and growing. This dynamism and growth comes from its skilled
and experienced human resources that can be found at every level of the organization. Bank
offers its employees handsome service benefits by way of Contributory Provident Fund,
Benevolent Fund, Gratuity and Superannuation benefits. The employees follow the ethical and
other codes of conduct as embodied in the Service Rules and Regulations of the Bank. Besides,
Bank operates benevolent fund for the benefit of its permanent employees.
Customers:
Bank discharges banking business responsibility by offering financial products and services that
truly meet customers' needs. The Bank looks upon the customers as its partners in business and
sincerely endeavours to improve its relationship with them for mutual benefits.
Shareholders:
Bank is fully committed to protect the interest of its shareholders. It releases enough disclosures for
the information of the shareholders in the Annual Report, half-yearly financial statements, the print
and electronic media and in the Bank’s web site. Since its inception, the Bank has paid good
dividends to the shareholders. Mentionable here that the bank has recommended a cash dividend @
20.00% per ordinary share i.e. a total amount of Tk 80,01,60,674.00 for the year 2016.
The Bank’s Business Associates:

The Bank always endeavours to create a long lasting win–win relationship with its suppliers and
business associates for mutual growth. Bank enjoys credit lines from Correspondents and foreign
Banks.
Regulators:
Bank firmly believes that it is imperative to comply with the relevant laws, rules and regulations
of all regulatory authorities to be a responsible corporate citizen. The Bank’s business practices
are transparent and are appreciated by the regulators. The Bank operates cautiously observing the
anti money laundering practices.

Community:
Bank works to promote good community relation to foster a relationship of understanding, trust
and credibility. It has a long history of support for charitable causes. Bank donates for education,
sports, art, culture, health-care, community development, relief operation etc.
National Economy:
Bank has directly employed 3,667 people in the service of the Bank and has also generated
employments for thousands of men and women in the projects and industrial ventures established
with our finance. Bank is contributing handsome amounts to the national exchequer as corporate
tax, vat, excise duty, etc.
Environment:
Bank conducts business in a manner which seeks to prevent, or minimize the possibility of ours
operations causing harm to people, plants or animals through imposing conditions and closely
monitoring loan sanction and other financial benefits. We are quite concerned about how projects
financed by the Bank are impacting the environment. Participating in the programme of
beautification of Dhaka City the Bank financed in the sculpture of national bird “Doel” which is
known as “Doel Square” in front of Karzon Hall of Dhaka University.
The Bank conducted following CSR activities in the year 2016.
(Amount in Taka)
Sl. Sector CSR activities in the year 2016 Expenditure
No. incurred
01. Disaster Financial assistance to martyred army officers family killed in 2,38,25,000.00
Management BDR carnage, flood affected people of Jamalpur district, Prime
Ministers Relief and Welfare Fund and blankets to cold
affected people in winter.
02. Arts & Bank donated to “Doel Square” in front of Karzon Hall of 37,31,050.00
Culture Dhaka University for beautification and full functioning of
Doel Foara, installation of CC Camera in Sir Iqbal Road
Branch, Khulna and E-town project of Moulvibazar.
03. Treatment Bank donated to different patients for treatment and helped 3,54,519.00
building of cash counter and lobby for Children & Women of a
Cardiac Hospital.
04. Education Bank donated to a Residential Blind Girls School, Faridpur for 25,000.00
setting up of Computer over same.
05. Sports Bank donated to Chandpur District Sports Association for 10,000.00
promotion of national games & sports in Bangladesh and
enriching the sports to a remarkable position in international level.
06. Other Bank paid for establishment of Child Day Centre for the 4,52,200.00
Officials of Private Banks whose Head Office are situated at
Motijheel area, Dhaka and Cycle distribution to the inhabitants
of recently abolished 04 enclaves of Panchagar district.
Total 2,83,97,769.00

VALUE ADDED STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2016
The value added statement of Uttara Bank Limited shows how the value is created and distributed to the different stakeholders of the Bank.
Value added to the Bank stood at Tk.6,604,453,423 registering a growth of 7.85% over the previous year.
Particulars 2016 % 2015 %

Taka Taka
Income from Banking Services 14,724,299,187 15,771,921,011

Less : Cost of services & supplies 7,703,409,999 8,249,494,092
Value added by Banking Services 7,020,889,188 7,522,426,919
Add Retained surplus 63,564,235 60,842,240
Less:Loan loss provision & other provision 480,000,000 1,456,084,750
Total Value Added 6,604,453,423 100% 6,127,184,409 100%
Distrbution of Value Addition

To employees as salaries & allowances 4,278,753,751 65 3,294,760,855 54
To Government as Income tax 492,095,863 7 1,017,738,046 17
To Benevolent Fund - - 5,000,000 0
To Statutory Reserve - - 300,000,000 5
To General Reserve - - - -
To Expansion & Growth 1,833,603,809 28 1,509,685,508 24
a) Retained Earnings 1,594,311,652 1,263,724,909
b) Depreciation 239,292,157 245,960,599
6,604,453,423 100 6,127,184,409 100
Distribution of Added Value 2016 Distribution of Added Value 2015
Salaries & Allowances (65%) Statutory Reserve 0% Salaries & Allowances (54%) Statutory Reserve 5%
Income tax (7%) Expansion & Growth 28% Income tax (17%) Expansion & Growth 24%

ECONOMIC VALUE ADDED STATEMENT (EVA) FOR THE YEAR ENDED 2016
Economic Value Added (EVA) indicates the true economic profit of a Company. EVA is an estimate of the amount by which earnings
exceed or fall short of required minimum return for shareholders at comparable risks. EVA of the Bank stood at Tk. 832,510,348 as of 31
December 2016 as against Tk. 1,383,061,070 in 31 December 2015. Uttara Bank Ltd. is always concern for delivery of value to all of our
Shareholders/Equity providers.

Taka Taka

Less: Operating Expenses (6,371,867,637) (4,862,585,612)
Operating Profit 2,502,843,280 3,976,705,465
Less: Income Tax (492,095,863) (1,017,738,046)
Profit after Tax(PAT) 2,010,747,417 2,958,967,419
Shareholders' Equity 13,350,806,318 13,156,214,364
Average Shareholder's Equity 13,253,510,341 12,668,057,469
Average cost of Equity* 8.89% 12.44%
Equity Cost 1,178,237,069 1,575,906,349
Economic Value Added (PAT-Equity cost) 832,510,348 1,383,061,070
Growth over the last year (0.74) 61.76
Average cost of Equity (8.89%)
* Based on weighted average rate of 10 years treasury bond issued by the Bangladesh Bank (6.89)+ Risk Premium (2.00%)
Economic Value Added

(Taka in Million)
14000
12000
10000
8000
6000
4000
2000
0
2016 2015

MARKET VALUE ADDITION (MVA) STATEMENT FOR THE YEAR ENDED 2016
Market Value Added (MVA) is the amount derived from the difference between market capitalization and book value of the shares
outstanding in the market. It's the indication of progressive market growth as well as financial strength which the company possesses.
(Amount in Taka)
Market value per share 24.70 22.70
Number of shares outstanding 400,080,337 400,080,337
Total market capitalization 9,881,984,324 9,081,823,650
Book value of shares outstanding 4,000,803,370 4,000,803,370
Market value added 5,881,180,954 5,081,020,280
Market value Addition

(Taka in Million)
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
2016 2015

BASEL III PILLAR III
MARKET DISCIPLINE
OF
UTTARA BANK LIMITED

Disclosure on Risk Based Capital
Annual Disclosure for the year ended December 31, 2016
Foreword
Meaningful information about common key risk metrics to market participants is a fundamental tenet
of a sound banking system that reduces information asymmetry and helps promote comparability of
banks’ risk profiles within and across jurisdictions. Pillar 3 of the Basel framework aims to promote
market discipline through regulatory disclosure requirements. These requirements enable market
participants to access key information relating to a bank’s regulatory capital and risk exposures in
order to increase transparency and confidence about a bank’s exposure to risk and the overall
adequacy of its regulatory capital.
With a view to ensuring transparency in the financial sector, in line with the recommendations of
Basel Committee on Banking Supervision popularly known as Basel Accords, Bangladesh Bank has
formulated “Guidelines on Risk Based Capital Adequacy” in terms of Bangladesh context. Under
this guideline, market disclosure occupies a decisive share since the public disclosure of prudential
information is an important component of Basel-III framework of capital measurement and capital
adequacy. This disclosure aims at enhancing transparency in the financial market of Bangladesh
through setting up minimum requirement for disclosure of information on the risk management and
capital adequacy.
The following detailed qualitative and quantitative disclosures of the Bank are furnished in
accordance with the BRPD Circular No: 18 of 21st December, 2014 to enable our stakeholders make
informed assessment regarding the bank's financial health and to identify the risks relating to the
assets and capital adequacy as on December 31, 2016.
Uniformity and Validation:

The quantitative disclosures are made on the basis of consolidated audited financial statements of
UBL and its Subsidiaries as at and for the year ended December 31, 2016; prepared under relevant
International Accounting & Financial Reporting Standards as adopted by the Institute of Chartered
Accountants of Bangladesh (ICAB) and related circulars/ instructions issued by Bangladesh Bank
from time to time.
The assets, liabilities, revenues and expenses of the subsidiaries are combined with those of the
parent company (UBL), eliminating intra-company transactions. Assets of the subsidiaries were risk
weighted and equities of subsidiaries were crossed out with the investment of UBL while
consolidating.
The information presented in this Pillar 3 Report is not required to be, and has not been, subject to
external audit. UBL has not omitted any disclosures on the grounds that the information may be
proprietary or confidential.
So, information presented in the ‘Quantitative Disclosures’ section can easily be verified and
validated with corresponding information presented in the consolidated audited financial statements
2016 of UBL.

Components of Disclosure:
Disclosure is organized as per Bangladesh Bank requirement in the following components:
1. Scope of Application
2. Capital Structure
3. Capital Adequacy
4. Credit Risk
5. Equities: Disclosures for Banking Book Positions
6. Interest Rate Risk in the Banking Book
7. Market Risk
8. Operational Risk
9. Leverage Ratio
10. Liquidity Ratio
11. Remuneration
1. Scope of Application
1.1. Qualitative Disclosure
a) Top corporate entity in the Group to which this guideline applies
The framework applies to Uttara Bank Limited (UBL) on ‘Consolidated Basis’ as there
were two (02) subsidiaries of the Bank as on the reporting date i.e. December 31, 2016.
However, ‘Solo Basis’ information has been presented beside those of ‘Consolidated
Basis’ to facilitate comparison.
b) An outline of differences in the basis of consolidation for accounting and regulatory

purposes, with a brief description of the entities within the group that are:
Fully consolidated
Given a deduction treatment &
Neither consolidated nor deducted
Entities within the Group: The Bank has two (02) fully owned subsidiaries in operations
as on the reporting date i.e. December 31, 2016.
a) UB Capital and Investment Ltd was incorporated as a Public Limited Company with
the Registrar of Joint Stock Companies and Firms, Dhaka Bangladesh on September
28, 2010 under the Bank Company Act, 1994 bearing Registration no C-87220/10.
b) Uttara Bank Securities Ltd was incorporated as a Public Limited Company with the
Registrar of Joint Stock Companies and Firms, Dhaka Bangladesh on June 13, 2013
under the Bank Company Act, 1994 bearing Registration No.109691/13.
Financials are fully consolidated, inter-company transactions & balances are eliminated.
c) Any restrictions, or major impediments, on transfer of funds or regulatory capital

within the Bank.
The rules and regulations of ‘Single Borrower Exposure Limit’ for the customers are
equally applicable for the Bank in financing its own subsidiaries.

1.2. Quantitative Disclosures
d) Surplus capital of insurance subsidiaries in the capital of the consolidated group.
Not Applicable.
2. Capital Structure
a) Main features of all capital instruments, eligible for inclusion in CET 1, Additional Tier 1
or Tier 2.
For the purpose of calculating capital under capital adequacy framework, the capital of
banks has been classified into two (02) tiers. Total regulatory capital consists of sum of
the following categories:
1. Tier 1 Capital (Going Concern Capital)
a) Common Equity Tier 1
b) Additional Tier 1
2. Tier 2 Capital (Gone Concern Capital)
Conditions Status
CET 1 Complied.
Tier 1 Complied.
Minimum CRAR Complied.
AT1 Complied.
Tier 2 Complied.

a) Amount of Regulatory capital, with separate disclosure of: CET1 Capital, Additional Tier
1 Capital, Total Tier 1 Capital & Tier 2 Capital.
b) Regulatory Adjustments/ Deductions from Capital.
c) Total Eligible Capital.
In Crore
Components of Capital Solo (Bank) Consolidated
A Tier-1 Capital (Going Concern Capital) 1,082.50 1,088.37
1. Common Equity Tier-1 1,082.50 1,088.37
Fully Paid-up Capital 400.08 400.08
Statutory Reserve 433.08 433.08
General Reserve 83.56 83.56
Retained Earnings 159.33 165.20
Dividend Equalization Reserve 6.44 6.44
Minority Interest in Subsidiaries 0.00
2. Additional Tier-1 Capital - -
B Tier-2 Capital (Gone Concern Capital) 165.59 165.59
General Provision 89.85 89.85
Revaluation Reserves 126.24 126.24
Minority Interest in Subsidiaries - 0.00
Revaluation Reserves (Phase-in deductions) (50.50) (50.50)
Total Regulatory Capital (A+B) 1,248.09 1,253.96

3. Capital Adequacy
a) Bank’s capital adequacy assessment approaches to support current & future activities.
Regulatory capital assessment is an integrated and comprehensive process. Consistent to

its level of capital, Bank manages its exposure through sound risk management, careful
selection of credit exposures and conservative business strategy. Credit policy and
investment policy of the bank are designed in such a way that ensure the safety of all
concerned stakeholders.
On behalf of the Board of Directors, Risk Management Committee (RMC) ensures the
implementation of Supervisory Review Process, that states capital adequacy goals with
respect to risk, taking account of the bank’s strategic focus and business plan to ensure
the integrity of the overall risk management process so that all material risks faced by the
bank can be addressed in the capital assessment process.
UBL has adopted Standardized Approach for computation of capital charge for credit risk
and market risk while Basic Indicator Approach for operational risk, in line with the
RBCA guideline.

a) Capital Requirement for Credit Risk, Market Risk & Operational Risk.
b) Total capital, CET1 capital, Total Tier 1 capital and Tier 2 capital ratio:
For the Consolidated Group; and
For Stand Alone
c) Minimum Capital Requirement (MCR) & Capital Conservation Buffer.
d) Capital under Pillar 2 Requirement.
In Crore
Particulars Solo (Bank) Consolidated
a) Capital Requirement
Capital Requirement for Credit Risk Tk. 762.19 756.19
On Balance Sheet Requirement Tk. 692.49 686.48
Off Balance Sheet Requirement Tk. 69.70 69.70
Capital Requirement for Market Risk Tk. 31.23 31.23
Capital Requirement for Operational Risk Tk. 139.18 136.33
Tk. 932.59 923.75
b) Capital to Risk Weighted Assets Ratio (CRAR)
Total Capital to RWA Ratio % 13.38% 13.57%
Common Equity Tier-1 to RWA % 11.61% 11.78%
Tier-1 Capital to RWA % 11.61% 11.78%
Tier-2 Capital to RWA % 1.77% 1.79%
c) Minimum Capital Requirement (MCR @ 10%) Tk. 932.94 923.75

Capital Conservation Buffer (@ 0.625%) Tk. 58.29 57.73
d) Capital under Pillar 2 Requirement Tk. Not Required Not Required

4. Credit Risk
a) The general qualitative disclosure with respect to credit risk, including:
Definitions of Past Due and Impaired (for accounting purposes);
Description of approaches followed for specific, general allowances & statistical
methods;
Discussion of the bank’s Credit Risk Management policy.
.
Credit risk is defined as the probability of the loss (due to the non-recovery of) emanating
from the credit extended as a result of the non-fulfilment of contractual obligations arising
from inability or unwillingness of the counterparty or for any other reason.
Past due & Impaired Loans

According to "Guidelines on Risk Based Capital Adequacy”, “Past Due” means
overdue for 60 days or more that include SMA, SS, DF & BL.
Approaches for Specific & General Allowances/ Provision

General and Specific Provisions on loans and advances are made quarterly by
management review as per instructions contained in BRPD Circular. Provisions and
interest suspense are separately shown under other liabilities as per 1 st schedule of
Bank Company Act 1991 (amendment up to 2013), instead of netting off with loans.
Criteria for loan classification & provisioning is as below:
Sub Standard (SS) Doubtful (DF) Bad & Loss (BL)

Type of Facility
Overdue % Overdue % Overdue %
Continuous Loan
Demand Loan
20% 50% 100%
Fixed Term Loan >10 lac
Fixed Term Loan <10 lac

Months
Short Term Agricultural
5% 5% 100%
& Micro Credit Months
General provisions for unclassified loans & advances and contingent assets are
measured as per BB prescribed provisioning rates as mentioned below:
Unclassified (including SMA) General Provision

General Loans & Advances 1.00%
Small & Medium Enterprise 0.25%
Loans to BHs/ MBs/ SDs against Shares Etc. 2.00%
Housing Finance & Loans for Professionals 2.00%
Consumer Financing 5.00%
Short Term Agricultural & Micro Credit 2.50%
Off Balance Sheet Exposures 1.00%

Credit Risk Management Policy:
Sound credit risk management presupposes the presence of a good system of credit
analysis that will prop up the credit risks to be dealt with. Our endeavor in
identifying, measuring, monitoring and controlling credit risk for each borrower and
also at the portfolio level are working as the guiding principles of credit risk
management.
Uttara Bank Limited always acknowledges effective Risk Management as the key to
steady and stable growth for the Bank. The Bank's own lending policy has been
introduced in the Bank in line with the directives received from the Bangladesh Bank
and the Government.
The Branches are the business unit of the banking system. The loan application
assessment process starts at branch level by the Relationship Managers, through zonal
office and ends at Credit Approval Department of Head Office. Credit Marketing
Department analyze the proposal from different perspectives in line with lending
policy of the Bank, while Credit Approval Department analyze business worthiness of
the proposal and forward towards Credit Committee.

a) Total gross credit risk exposure broken down by major types of credit exposure.
In Crore
Sn Exposures Type Solo (Bank) Consolidated
1 Banks & NBFIs 466.14 466.14
2 Corporate 1,545.69 1,545.69
3 Retail 395.56 395.56
4 SME 4,341.00 4,341.00
5 Staff Loan 327.66 327.66
6 Consumer Finance 0.64 0.64
7 Residential Mortgage 258.79 258.79
8 Bills Purchased/ Disc/ Neg. 263.03 263.03
9 Past Due 732.59 732.59
8,331.11 8,331.11
b) Geographical distribution of credit exposure.

In Crore
Sn Division Amount
1 Dhaka Division 5,103.42
2 Chittagong Division 1,233.94
3 Barisal Division 428.81
4 Khulna Division 524.07
5 Rajshahi Division 470.63
6 Rangpur Division 361.21
7 Sylhet Division 209.03
8,331.11

c) Industry or Counterparty type distribution of credit exposure.
In Crore
Sn Sector Amount
1 Drugs & Pharmaceuticals 0.13
2 Manufacturing of Chemical & Chemical Products 0.71
3 Plastic & Plastic Products 4.02
4 Information & Communication Technology (ICT) 4.83
5 Paper, Paper Products & Publishing 7.87
6 Leather & Leather Products 9.48
7 Jute and Jute Products 33.86
8 Agro Based Industries 40.34
9 Agriculture (Crops) 41.08
10 Fuel and Power 42.43
11 Manufacturing of Non-Metallic 48.90
12 Iron & Steels 78.30
13 Ready Made Garments (RMG) 95.25
14 Agriculture (Non-Crops) 177.42
15 Food & Beverage 210.57
16 Textile Others 234.82
17 Construction- Apartment/ Housing 300.97
18 Construction- Commercial 355.37
19 Consumer Loan 393.18
20 NGOs and MFIs 910.40
21 Trading- Retail 1,268.59
22 Trading- Wholesale 2,325.69
23 Others 1,746.89
8,331.11
d) Residual contractual maturity breakdown of the whole portfolio.

In Crore
Sn Maturity Bucket Amount
1 Repayable on demand up to 1 month 1,319.57
2 Over 1 month but not more than 3 months 1,432.97
3 Over 3 months but not more than 1 year 3,696.80
4 Over 1 year but not more than 5 years 1,222.99
5 Over 5 years 658.77
8,331.11
e) Sector wise exposure of Classified loans & Past due loans.

In Crore
Sn Sector Amount
1 Agro Based Industries 1.23
2 Plastic & Plastic Products 1.67
3 Consumer Loan 1.94
4 Paper, Paper Products & Publishing 2.89
5 Construction- Apartment/ Housing 13.06
6 Agriculture (Crops) 13.32
7 RMG 14.18

8 Fuel and Power 21.57
9 Food & Beverage 34.90
10 Iron & Steels 35.22
11 Construction- Commercial 36.40
12 Agriculture (Non-Crops) 37.53
13 Trading- Retail 109.06
14 Others 115.11
15 Trading- Wholesale 203.98
645.80
f) Gross Non-Performing Assets (NPAs)
Non-Performing Assets (NPAs) to Outstanding Loans & Advances
Movement of Non-Performing Assets (NPAs)
Movement of specific provisions for NPAs
Sn Particulars Amount/ %
1 Gross Non-Performing Assets (NPAs) 645.80
2 Non-Performing Assets to Outstanding Loans & Advances 7.75%
3 Movement of Non-Performing Assets
Opening Balance 627.26
Additions (+) 510.11
Reductions (-) 491.57
Closing Balance 645.80
4 Movement of Specific Provisions for NPAs
Opening Balance 114.47
Provisions Made during the Period (+) 39.15
Write Off (-) 30.14
Write Back of Excess Provisions (+) 6.98
Closing Balance 130.46
5. Equities: Disclosures for Banking Book Positions

a) Differentiation between holdings on which capital gains are expected and those taken
under other objectives including for relationship and strategic reasons.
Investment in equity securities by UBL is broadly categorized into two parts: Quoted
securities (Ordinary shares, Mutual Fund) and Un-quoted securities.
Quoted Securities are those placed into the trading book assets, are traded in the
secondary market.
Un-Quoted Securities are categorized as banking book equity exposure.
b) Important policies of Equity holdings in the banking book including the valuation
methodologies & accounting techniques, key assumptions practices affecting valuation
as well as significant changes in these practices.
Investments in these equity securities have been initiated with a view to making capital
gain by selling them in the future or hold for dividend income. Both quoted and un-

quoted equity securities are valued at cost and requisite provisions are maintained to
offset the price shock i.e. if prices fall below the cost price.

a) Fair value & Market value of Investments; comparison to publicly quoted share values
where the share price is materially different from fair value; for quoted securities.
Fair Value Tk. 30.38 Crore

Market Value Tk. 192.37 Crore
b) Gains (Losses) arising from sales & liquidations.

Cumulative Realized Gains (Losses)
Total Unrealized Gains (Losses)
Total Latent Revaluation Gains (Losses)
Any amounts of the above included in Tier 2 capital.
Not Applicable.
c) Capital requirements broken down by appropriate equity groupings, as well as the

aggregate amounts and the type of equity investments subject to any supervisory
provisions regarding regulatory capital requirements.
Specific Market Risk Tk. 7.57 Crore

General Market Risk Tk. 7.57 Crore
6. Interest Rate Risk in the Banking Book (IRRBB)

a) The general qualitative disclosure requirement including the nature of IRRBB and key
assumptions, including assumptions regarding loan prepayments and behaviour of
non-maturity deposits, and frequency of IRRBB measurement.
Interest rate risk in the banking book (IRRBB) is the current or potential risk to the
interest rate sensitive assets and liabilities of a bank’s balance sheet as well as the off-
balance sheet items arising out of adverse or volatile movements in market interest rate.
Volatile movements of market interest rate adversely affect the value of interest rate
sensitive assets and liabilities that consequentially results in the loss of equity value.
IRRBB arises from differences between the timing of rate changes and the timing of cash
-pricing risk); from changing rate relationships among yield curves that affect
bank activities (basis risk); from changing rate relationships across the range of maturities
(yield curve risk); and from interest rate related options embedded in bank products
(option risk).
The process of interest rate risk management by the bank involves determination of the
business objectives, expectation about future macro-economic variables & understanding
the money markets and debt market in which it operates. Interest rate risk management

also includes quantifying the appetite for market risk to which bank is comfortable. The
Bank uses the following two (02) approach to manage interest rate risks inherent in the
Balance sheet:
Simple Sensitivity Analysis and
Duration Gap Analysis

a) The increase (decline) in earnings or economic value for upward and downward rate
shocks according to management's method for measuring IRRBB, broken down by
currency (as relevant).
Particulars Basis Before Shock After Shock

DGAP Years 0.38 Minor (1%) Moderate (2%) Major (3%)
Regulatory Capital Crore Tk. 1,259.24 1,203.20 1,147.16 1,091.12
RWA Crore Tk. 9,237.45 9,181.41 9,125.37 9,069.33
CAR % 13.58% 13.05% 12.52% 11.98%
7. Market Risk
a) Views of BOD on trading/investment activities
Market Risk, possibility of losing assets in balance sheet & off-balance sheet positions
arising out of volatility in market variables i.e. interest rate, exchange rate and price.
Interest Rate risk arises due to changes in yield curves, credit spreads and implied
volatilities on interest rate options.
Equity Position Risk arises due to changes in equity price, indices, baskets & implied
volatilities on related options.
Foreign Exchange Risk arises due to changes in exchange rates & implied volatilities
on foreign exchange options.
Commodity Risk; arises due to changes in exchange rates & implied volatilities on
foreign exchange options.
All Market risk related policies/ guidelines are duly approved by the BOD. The BOD sets
limit, review & update the compliance on regular basis targeting to mitigate market risk.
b) Methods used to measure Market risk
Bank applies maturity method in measuring interest rate risk in respect of securities in
trading book. The capital charge for entire market risk exposure is computed under the
standardized approach using the maturity method and in accordance with the guideline
issued by Bangladesh Bank.
c) Market Risk Management System
To manage the interest rate risk, ALCO regularly monitors various ratios and parameters.
Of the ratios, the key ratios that ALCO regularly monitors are Liquid asset to Total
Assets, Volatile liability dependency ratio, and MTF Ratio, Snap Liquidity Ratio and

Short term borrowing to Liquid assets ratio. ALCO also regularly monitors the interest
rate sensitive gap and duration gap of total portfolio.
To manage foreign exchange risk of the bank, the Bank has adopted the limit by central
bank to monitor foreign exchange open positions. Foreign exchange risk is computed on
the sum of net short positions or net long positions, whichever is higher of the foreign
currency positions held by the Bank.
d) Policies and processes for mitigating Market Risk
To mitigate Market Risk, Asset & Liability Management Department (ALMD) takes
following measures:
Interest Rate Risk Management: ALMD reviews the risks of changes in income of
the Bank as a result of movements in market interest rates. In the usual course of
business, the Bank tries to minimize the mismatch between the duration of interest
sensitive assets and liabilities. Effective interest rate management is done through
market analysis and Gap analysis.
Foreign Exchange Risk Management: It is the risk that arises from potential
fluctuations in the exchange rate, adverse exchange positioning or change in the
market. ALMD mitigates this risk by supervising day to day trading activities and by
setting limits.
Equity Risk Management: Equity risk is defined as losses due to changes in market
price of the equity held. To measure and identify the risk, market valuation of the
share portfolio is done.

a) The capital requirements for:
Interest rate risk: equity position risk; foreign exchange risk; and Commodity risk.
In Crore
Particulars Capital Req.
Interest Rate Risk 13.39
Equity Position Risk 15.14
Forex Risk 2.71
Commodity Risk -
Total Capital Charge 31.23
8. Operational Risk
a) Views of BOD on system to reduce Operational Risk
Performance gap of executives and staffs
Potential external events
Policies and processes for mitigating Operational Risk
Approach for calculating capital charge for Operational Risk
Operational risk is the risk of loss arising from fraud, unauthorized activities, error,
omission, inefficiency, systems failure or external events. It is inherent in every business

organization and covers a wide spectrum of issues. We seek to minimize exposure to
operational risk, subject to cost benefit trade-offs. The bank captures some pre identified
risk events associated with all functional departments of the bank through standard
reporting format.
All the policies/ guidelines including Internal Control and Compliances and Board audit
are duly approved by BOD. Audit Committee of the Board directly oversees the activities
of internal control and compliances aiming to check all types of lapses and irregularities
inherent with operational activities of the Bank and thereby may create a notable
downfall risk for the Bank.
Operational Risk includes legal risk, but excludes strategic and reputation risk. It arises
from:
Transaction Processing
Operation Control
Technology and Systems
Risks of Physical and Logical Security
Unique Risk arises due to Outsourcing
Performance Gap of Executives and Staffs

The BOD of the Bank is always keen to provide a competitive, attractive and
handsome remuneration package for its employees. Besides, the recruitment policies
of the Bank always emphasize on sorting out fresh graduate from the reputed
universities and nurture them until transformation to a ‘Human Capital’ of highest
quality. Besides, the Bank’s name and fame as top tier. Bank of the country acts as
moral boosting factor for the employees. An accommodating, welcoming, co-
operative and congenial work atmosphere motivates its employees to act as a family
towards achievement of goal. As such, there exists no performance gap in the bank.
Potential External Events

We understand that business operates in an umbrella of inter connected socio-
economic and political environment. Few externalities affect business performance
directly such as macro-economic conditions, regulatory changes, change in demand,
status of infrastructure whereas few factors affect operations of the business directly
or indirectly such as force shut down due to political instability, threat of vandalism
to the bank’s sophisticated physical outlets including IT equipment’s etc.
Operational Risk Mitigation Policies and Procedure

Operational Risks results from inadequate or failed internal process, people and
systems or from external events. Within the Bank, Operational Risk may arise from
negligence and dishonesty of the employees, lack of management supervision,
inadequate operational control, lack of physical security, poor technology, lack of
automation, non- compliance of regulatory requirements, internal and external fraud
etc. Operational Risk Management Framework has been designed to provide a sound
and well-controlled operational environment and thereby mitigate the degree of
operational risk.

Approach for Calculating Capital Charge for Operational Risk
The bank applies ‘Basic Indicator Approach’ of Basel II as prescribed by BB in
revised RBCA guidelines. Under this approach, banks have to calculate average
annual gross income of last three years and multiply the result by 15% to determine
required capital charge.

a) The capital requirements for Operational Risk
Basis Solo (Bank) Consolidated

Capital Requirement for Operational Risk Crore Tk. 139.18 136.33
9. Leverage Ratio
a) Views of BOD on system to reduce Liquidity Risk
Methods used to measure Liquidity Risk
Liquidity Risk Management System
Policies and processes for mitigating Liquidity Risk
The BOD assumes the responsibility of ensuring the bank’s adequate liquidity for both
normal operations and unanticipated stress events. By approving the policy statement, the
Board specifically:
Approves policy limits, monitoring and reporting systems
Sets up line management responsibilities.
Puts systems in place to review actual performance relative to policies & controls.
Hold management accountable to measure, monitor & control liquidity risk.
Regular reviews liquidity reports to ensure liquidity risk is within policy limits.
Reviews Contingency Funding Plans.
Methods used to Measure Liquidity Risk

Banks provide maturity transformation. Taking deposits that are callable on demand
or that on average has shorter maturity than the average maturity of the financing
contracts they sell. While maturity transformation provides liquidity insurance to the
depositors, which is valued by them, it exposes banks to liquidity risk themselves.
Since banks specialize in maturity transformation they take pool deposits and take
care to match their cash inflows and outflows in order to address the liquidity risk
they face. Following are the ways to measure liquidity risk:
Judging the timing of bank’s cash in- and out-flows.
Anticipating change in the cost of capital or availability of funding.
Abnormal behaviour of financial markets under stress.
Range of assumptions used in predicting cash flows.
Breakdown in payments and settlement system.
Macroeconomic imbalances.

Liquidity Risk Management System
Identify the primary sources of funding.
Provide for alternative responses to business scenarios.
Deal with temporary, short-term and long-term liquidity disruptions.
Operate within liquidity risk tolerance levels.
Consider and manage volatile liability dependence.
Consider contingent exposures like undrawn credit lines.
Liquidity Risk Mitigation Policy

Liquidity risk management process has been developed with the objective of
optimizing the relationship between liquidity risk and other forms of risk such as
interest rate risk, credit risk and capital risk, while providing maximum returns to
stockholders. The process includes:
Identify the primary sources of funding.
Provide for alternative responses to business scenarios.
Deal with temporary, short-term and long-term liquidity disruptions.
Operate within liquidity risk tolerance levels.
Incorporate periodic review of assumptions used in liquidity projections.
Utilize cash flow projections.
Maintain target levels of unpledged liquid asset reserves.
Consider and manage volatile liability dependence.
Address funding concentrations.
Consider contingent exposures like undrawn credit lines.
Provide management reporting of the type and frequency specified in the policy.

a) Liquidity Coverage Ratio(LCR)
Net Stable Funding Ratio (NSFR)
Stock of High Quality Liquid Assets
Total Net Cash Outflows over the next 30 calendar days
Available Amount of Stable Funding
Required Amount of Stable Funding
Sn Particulars Basis Amount
1 Liquidity Coverage Ratio(LCR) % 1,157.74%
2 Net Stable Funding Ratio (NSFR) % 113.77%
3 Stock of High Quality Liquid Assets Crore Tk. 4,148.50
4 Total Net Cash Outflows over the next 30 calendar days Crore Tk. 2,838.82
5 Available Amount of Stable Funding Crore Tk. 13,415.67
6 Required Amount of Stable Funding Crore Tk. 11,781.99

10. Liquidity Ratio
a) Views of BOD on system to reduce Excessive Leverage
Policies and processes to manage excessive On and Off-Balance Sheet Leverage
Approach for Calculating Exposure
Leverage Ratio was introduced into the Basel III framework as a non-risk based backstop
limit, to supplement risk-based capital requirements. In order to avoid building up excessive
on and off-balance sheet leverage in the banking system, a simple, transparent, non-risk
based leverage ratio has been introduced by the Bangladesh Bank. The leverage ratio is
calibrated to act as a credible supplementary measure to the risk based capital requirements.
The BOD understands that increasing quality capital base as well as reducing bad assets
is the ways to latch on to the dependency on the excessive leverage. Leverage being the
staple feature of banking business cannot be minimized but careful management would
certainly yield profit from this.
Excessive Leverage Management Policy
To manage excessive leverage, banks either have to reduce their asset base, increase
their capital, or both. It can be achieved by selling assets, reducing outstanding credit
on accounting books by calling back loans, issuing additional share capital &
retaining earnings. In many cases a combination of all these is pursued.
Exposure Calculation
To measure the exposure consistent with financial accounts, following principles are
followed:
On balance sheet, non-derivative exposures are calculated as net of specific
provisions and valuation adjustments.
Physical or financial collateral, guarantee or CRM technique is not considered
to reduce On-balance sheet exposure.
Netting of loans and deposits is not considered.
On-Balance Sheet Items are included using accounting balance sheet.
Off-Balance Sheet Items are calculated by applying a uniform 100% Credit Conversion
Factor (CCF) and for unconditionally cancellable commitments, 10% CCF is applied.

a) Leverage Ratio
On Balance Sheet Exposure
Off Balance Sheet Exposure
Sn Particulars Basis Solo (Bank) Consolidated
1 Leverage Ratio % 6.30% 6.34%
2 On Balance Sheet Exposure Crore Tk. 16,110.06 16,101.75
3 Off Balance Sheet Exposure Crore Tk. 1,062.11 1,062.11
4 Total Exposure Crore Tk. 17,172.17 17,163.86

11. Remuneration
a) Information regarding bodies that oversee remuneration
The remuneration of the bank is governed by the “Pay Structure” of the bank which is
approved by the Board from time to time. Human Resources Division is solely
responsible for overseeing the pay structure followed by the HR policy Guidelines.
Composition
Managing Director Managing Director
General Manager
Mandate
HRD places the position of remuneration, the matters & recommendations associated
to it before the Board of Directors for approval of its restructuring, rearrangement
modification in line with the industry best practices as per requirement.
External Consultants
Bank does not deploy any external consultant regarding remuneration & its process.
Scope of the Remuneration Policy

The remuneration policy does not discriminate by regional basis and business lines.
The bank does not have any foreign subsidiaries branches outside Bangladesh as on
31/12/2016.
Material Risk Takers

Actually, the senior management, branch manager and employees engaged in
different departments and division at Head Office (except the employees involved in
internal control and compliance) are considered as main risk takers of UBL.
b) Information relating to the design and structure of remuneration
Key features and objectives of Remuneration Policy

UBL is committed to maintain a performance based reward policy that recognizes the
contribution of each of the employees and links to the market competitive pay. Main
features and objectives are:
Avoid decimation in the pay structure
Retention of interest of the stakeholders
To cope up with the industry practice
To focus on sustainable growth &
To bring employees satisfaction.
Remuneration Policy: Change in Last Year

In the last financial year, bank does not bring any changes in the remuneration policy.

How Risk and Compliance Employees are remunerated independently
The performance of each employee is evaluated annually as per predetermined set
criteria and accordingly the result of the performance varies from one to another and
this is considered only for promotion purposes.
c) Description of the ways in which current and future risks are taken into account in the
remuneration processes
Key risks involve in Remuneration Measures

The key risks that the bank takes into account when implementing remuneration
measures are:
Default risk that arises from providing loans.
Reputation risk arising from not providing satisfactory customer services.
Liquidity risk that arises from unavailability of payment obligations.
Compliance risk arising due to comply the pay structure perfectly.
Nature and Type of the Key Measures

Risk is difficult to measure in absolute figures. Risk can be minimized in various
ways if the institutions try and take account of those risks seriously. The bank at first
makes a budget of loans, deposits and profit and tries to achieve the target by taking
measure of reducing NPL, sustaining growth rate of credit deposit ratio increasing
asset quality, minimizing cost of fund and maximizing spread of income, increasing
provision coverage ratio as well as doing compliance status accurately and
satisfactory up to the regulatory bodies from time to time.
How they affect Remuneration

Remuneration is the main and largest components of administrative cost of a bank.
So, effective management of remunerating depends on the proper implementation of
the above measures.
Key Measures: Change in last year?

No material changes had been made during the year 2016 that could affect the
remuneration.
d) Description of the ways in which the bank seeks to link performance during a
performance measurement period with levels of remuneration
Main Performance Metrics

Business target is fixed up upon some key performance indicators (KPIs) which are
set and approved by the Board and senior management of the bank. The management
set appropriate tools, techniques, and business planning and strategic planning in line
with set target. The most common KPI’s are LD ratio, NPL ratio, cost of fund, yield
of funds, CRAR, ROA, ROE, LCR, CRR, SLR etc.

How Remuneration amount is linked to Performance
Remuneration of the employees of the bank is paid based on bank’s service rule (set
in HR policy). Sometimes (though rare in our bank, three (03) special increments may
be granted to an individual based up on his best performances by desecrating power
of CEO.
Measures taken for Weak Performance Metrics

In fact, no adjustment was made in payment of remuneration for weak performance
metrics.
e) Description of the ways in which the bank seeks to adjust remuneration to take account
of longer-term performance
Variable Remuneration Policy

As per our HR policy the Managing Director may allow at best three (03) special
increment for best performers. But in the last financial year, the bank did not allow
any such increments. The banks’ remuneration is paid on cash basis. So no deferred
remuneration was found in the last financial year.
Policy and Criteria for adjusting Deferred Remuneration

Not applicable.
f) Description of the different forms of variable remuneration that the bank utilises and
the rationale for using these different forms
Forms of Variable Remuneration

Under our HR policy, the bank offers two forms of variable remuneration to the best
performers in the banking business:
Special Increments: The Managing Director may allow at best three special
increment.
Cash Rewards: A lump sum amount in the form of cash is given to the
performers.
Factors for the Mix and Forms of Variable Remuneration

In the last financial year, the bank paid no such variable remuneration. So there was
no use of the different forms of variable remuneration.

a) Number of meetings held by the main body overseeing remuneration during the
financial year and remuneration paid to its member
Not Applicable as there is no specific committee for remuneration.

b) No of Employees and amount got different forms of remuneration & award during the
financial year.
Variable Remuneration
Not applicable.
Incentive Bonus
Particulars Basis 2015 2016
Incentive Bonus Crore Tk. 16.48 23.00
Sign-on Awards
There is no sign-on awards made in 2016.
Severance Payments
No such payment was made during the fiscal year.
c) Deferred Remuneration
Outstanding
Not applicable.
Paid Out
Not applicable.
d) Breakdown of amount of remuneration awards for the financial year to show

Fixed and variable.
Deferred and non-deferred.
Different forms used (cash, shares and share linked instruments, other forms).
Not applicable.
e) Employees' exposure to implicit and explicit adjustments of deferred and retained

remuneration
Not applicable.

CREDIT RATING REPORT (SURVEILLANCE)
Credit Rating Agency of Bangladesh Limited (CRAB) has retained the Long Term rating of
Uttara Bank Limited at “AA3” (pronounced as Double A three) and the Short Term rating at
“ST-2” for the year 2015.
A comparative position of the Credit Rating of Uttara Bank Limited for the year 2015 and 2014
is furnished below:
Ratign Results
Long Term Short Term
“AA3”
ST-2
Based on 31 December 2015 (Very Strong Capacity & Very High
(High Grade)
Quality)
“AA3”
ST-2
Based on 31 December 2014 (Very Strong Capacity & Very High
(High Grade)
Quality)
Date of Rating 23 June 2016
Validity of Rating 30 June 2017
Outlook Stable
Commercial Banks rated “AA3” have very strong capacity to meet their financial commitments.
They differ from the highest rated Commercial Banks only to a small degree. AA is judged to be
of very high quality and is subject to very low credit risk. Commercial Banks rated “ST-2” are
considered to have strong capacity for timely repayment. Commercial Banks rated in this
category are characterized with commendable position in terms of liquidity, internal fund
generation, and access to alternative sources of funds. The rating reflects the Bank’s strength in
risk weighted capital adequacy, reasonable profitability and surplus provision.

LIST OF THE BRANCHES UNDER DIFFERENT ZONES
(Shown Alphabetically)
Corporate Under direct control of Head Office
Local Office
Dhaka Central Zone Donia Branch Raipur Branch Mongla Branch
Aulad Hossain Market Branch Elephant Road Branch Rajgonj Road Branch Narail Branch
Badda Branch English Road Branch Sonapur Branch Noapara Branch
Banasree Branch Imamgonj Branch Sarojgonj Branch
Islampur Branch Chittagong Zone Satkhira Branch
Banga Bandhu Avenue Branch Agrabad Branch
Dhaka Sheraton Hotel Branch Johnson Road Branch Sir Iqbal Road Branch
Mitford Road Branch Bandartila Branch
Dilkusha Branch Baraiyarhat Branch Barisal Zone
Eskaton Branch Moulvibazar Branch (DHK) Barguna Branch
Nawabgonj Branch Chaktai Branch
Fakirapool Branch Chawk Bazar (CTG) Branch Barisal Branch
Foreign Exchange Branch Naya Bazar Branch Bhola Branch
New Market Branch (DHK) Cox's Bazar Branch
Fulbaria Branch Halishahar Branch Charfashion Branch
Gulshan Branch Peelkhana Branch Chawk Bazar (BAR) Branch
Posta Branch Jubilee Road Branch
Hatkhola Branch Katghar Branch Daulatkhan Branch
Hotel Ishakha International Postagola Branch Faridpur Branch
Sadarghat Branch (DHK) Khatungonj Branch
Branch Laldighi Branch Galachipa Branch
Jatrabari Branch Tipu Sultan Road Branch Gopalgonj Branch
Lalkhan Bazar Branch
Kawran Bazar Branch Narayangonj Zone Lohagara Branch Jhalakati Branch
Ladies Branch Bhairab Bazar Nasirabad Branch Khepupara Branch
Malibagh Chowdhurypara Bhulta Branch Patiya Branch Lalmohan Branch
Branch D.I.T Branch Rangamati Branch Madaripur Branch
Moghbazar Branch Ghorasal Branch Reazuddin Bazar Branch Mathbaria Branch
Mohakhali Branch Ichhapura Branch Sadarghat Branch(CTG) Patuakhali Branch
Mugdapara Branch Madhabdi Bazar Branch Sandwip Branch Pirojpur Branch
Nawabpur Branch Munshiganj Branch Sheikh Mujib Road Branch Rajbari Branch
North Shahjahanpur Branch Narayanganj Branch Sitakunda Branch Shariatpur Branch
Ramna Branch Narsingdi Branch Tajumuddin Branch
Shantinagar Branch Netaiganj Branch Sylhet Zone Tekerhat Branch
Rekabi Bazar Branch Ambarkhana Branch Rajshahi Zone
Dhaka North Zone Baralekha Branch
AERE EPZ Branch Sarkarkhana Branch Bonpara Branch
Sonargaon Branch Beani Bazar Branch Chapainawabgonj Branch
Amin Bazar Branch Bishwanath Branch
Banijya Shakha Tan Bazar Branch Ishwardi Branch
Chhatak Branch Kansat Branch
BKSP Branch Mymensingh Zone Companyganj Branch (Sylhet)
Darus Salam Road Branch Lalpur Branch
Atia Branch Dhaka Dakshin Branch Mahisalbari Branch
Eastern Plaza Branch Bhagalpur Branch Fenchuganj Branch Natore Branch
Gazipura Branch Haluaghat Branch Goala Bazar Branch New Market Branch (Rajshahi)
Gheor Branch Jamalpur Branch Habiganj Branch Pabna Branch
Green Road Branch Kishoregonj Branch Jagannathpur Branch Puthia Branch
Joar Shahara Branch Mothkhola Branch Kulaura Branch Rani Bazar Branch
Joydebpur Branch Mymensingh Branch Laldighirpar Branch Shaheb Bazar Branch
Kalabagan Branch Netrokona Branch Mirpur Bazar Branch
Konabari Branch Sherpur Branch Mostafapur Branch Bogra Zone
Manikganj Branch Tangail Branch Bogra Branch
Moulvibazar Branch (Sylhet)
Mirpur Branch Nabiganj Branch Dinajpur Branch
Mohammadpur Branch Comilla Zone Nazir Bazar Branch Gaibandha Branch
Nabagram Branch Basurhat Branch Shahjalal Uposhahar BranchJoypurhat Branch
Pallabi Branch Begumganj Branch Sreemangal Branch Kurigram Branch
Panthapath Branch BGSL Branch Sunamganj Branch Lalmonirhat Branch
Rokeya Sarani Branch Birinchi Branch Sylhet Branch Naogaon Branch
Satmasjid Road Branch Brahmanbaria Branch Nilphamari Branch
Savar Branch Chandina Branch Khulna Zone Panchagarh Branch
Shibalaya Branch Chandpur Branch Bagerhat Branch Phulbari Branch
Shyamoli Branch Chandragonj Branch Chuadanga Branch Poura Park Market Branch
Chowmuhani Branch Daulatpur Branch Pulhat Branch
Tongi Branch Rangpur Branch
Comilla Branch Jessore Branch
Uttara Branch Saidpur Branch
Companigonj Branch (Comilla) Jhenaidah Branch
Dhaka South Zone Dharkhar Branch K.D.A Branch Shahjadpur Branch
Azimpur Branch Feni Branch Khalishpur Branch Sirajgonj Branch
Babu Bazar Branch Gopinathpur Branch Kushtia Branch Station Road Branch
Bangla Bazar Branch Laxmipur Branch Lower Jessore Road Branch Subgacha Branch
Chawk Bazar (DHK) Branch Maijdee Court Branch Magura Branch Thakurgaon Branch
Dholaikhal Branch Mudaforgonj Branch Meherpur Branch Ullapara Branch

MAP OF BANGLADESH SHOWING THE BRANCHES-DISTRICT WISE
Panchagar
1
Thakurgaon
1 Nilphamari Lalmonirhat
2 1
Kurigram
Dinajpur 1
4
Rangpur
INDIA 2
INDIA
(West Bengal) (Meghalaya)
Gaibandha INDIA
1
Joypurhat
1
Sherpur (Assam)
1
Sunamganj
Naogaon 3 Sylhet
Capai 1 Bogra
Nawabganj 1 Jamalpur Mymensingh Netrokona 11
2 1 1
2
Rajshahi
5 Hobiganj Moulvibazar
Natore 5
Sirajganj Kishoreganj 3
3 4 Tangail 4
2
Pabna Gazipur
2 4
Narsingdi INDIA
4
Meherpur Kushtia
1 Manikganj Dhaka Brahmanbaria (Tripura)
1 66 3
3 Narayanganj
Chuadanga Rajbari 6
1 1
Jhenaidah
1 Munshiganj
2 Faridpur 3 Comilla
Magura 1 6
1
Shariatpur Chandpur
Madaripur 1 1
Jessore Narail Khagrachari
2
2 1
Gopalganj INDIA
INDIA 1 Laxmipur Feni
2 (Mizoram)
Barisal 3 Noakhali
(West Bengal) Pirojpur 2 5
Rangamati
Satkhira 2 1
1 Bagerhat Jhalakati
1
Khulna 2
5
Patuakhali Bhola
3 5 Chittagong
19
Barguna
1
Bandarban
BAY OF BENGAL Cox's Bazar

1
St. Martin's Island

LIST OF THE BRANCHES AUTHORISED TO HANDLE FOREIGN EXCHANGE
Name & Address of AD Branches Cable Address Name & Address of AD Branches Cable Address
1 Local Office (02)9552032,9568625 Dhaka North Zone

50, Shahid Bir Uttam Asfaqus 01991144486, 01991144487 11 Banijya Shakha (02) 8932614, 8932615
Samad Sarak (Former: 129-130 01991144488, 01991144489 Garibb-E- Newaz Avenue 01991-144154
Motijheel C/A), Motijheel C/A, FAX: 880-2-9568627 House-34, Sector-13, Uttara, FAX: 880-2-9561046
Dhaka-1000 E-mail: localoffice.manager@uttarabank-bd.com Dhaka-1230 E-mail: banijya.manager@uttarabank-bd.com
Swift: UTBLBDDH432 Swift:UTBLBDDH453
2 Corporate Branch 9568186, 9553079, 7113489, 12 Darus Salam Road Branch (02) 9021865, 01991-144155
47, Shahid Bir Uttam Asfaqus 9587307, 01991144496, 2, Darus Salam Road (1st FAX: 880-2-9000474
Samad Sarak (Former: 90, 01991144497 Floor), Mirpur-1, Dhaka-1216 E-mail: darussalam.manager@uttarabank-bd.com
Motijheel C/A),Motijheel C/A, FAX: 880-2-7168452 Swift:UTBLBDDH462
Dhaka-1000 E-mail: corporate.manager@uttarabank-bd.com
Swift:UTBLBDDH452 13 AERE EPZ Branch (02) 7789561, 7789208
DEPZ Ganakbari, Dhamsona, 01991-144151
Dhaka Central Zone Ashulia, Dhaka-1344 FAX: 880-2-7701208
3 Banga Bandhu Avenue Branch (02) 9554034,9569396 E-mail: epz.manager@uttarabank-bd.com
12, Banga Bandhu Avenue, 01991-144117 Swift:UTBLBDDH460
Dhaka-1000 FAX: 880-2-9569396
E-mail: bbavenue.manager@uttarabank-bd.com 14 Kalabagan Branch (02) 8126136, 9117528
Swift:UTBLBDDH449 157, Lake Circus (Gr. Floor) 01991-144162
Kalabagan, Dhaka-1205 FAX: 880-2-9117528
4 Dilkusha Branch (02) 9551718, 9551856 E-mail: kalabagan.manager@uttarabank-bd.com
42, Dilkusha C/A 01991-144120 Swift:UTBLBDDH461
Dhaka-1000 FAX:880-2-9568628
E-mail: dilkusha.manager@uttarabank-bd.com 15 Pallabi Branch (02) 9033982, 9039222
Swift:UTBLBDDH433 Shimanta Plaza (1st Floor), 01991144168
26/D Main Road-3, Section-11, FAX: 880-2-8013982
5 Gulshan Branch (02) 9849667, 58814476 Pallabi, Mirpur, Dhaka-1216 E-mail: pallabi.manager@uttarabank-bd.com
Metropoliton Shopping 01991-144126 Swift:UTBLBDDH457
Plaza(1st Floor), Gulshan FAX: 880-2-58814476
E-mail: gulshan.manager@uttarabank-bd.com 16 Satmasjid Road Branch (02) 9113211, 01991144171
Circle-2, Dhaka-1212
Swift:UTBLBDDH458 Eastern Elite Centre (1st Floor) FAX: 880-2-9116420
741, Satmasjid Road, E-mail: satmashjidroad.manager@uttarabank-bd.com
6 Kawran Bazar Branch (02)8180054, 8180055 Dhanmondi R/A, Dhaka-1209 Swift:UTBLBDDH463
Jamuna Bhaban(1st Floor), 8180056, 01991-144130 17 Uttara Branch
2, Kawran Bazar FAX: 880-2-8117499 Singapore Plaza, (1st Floor) (02) 58958039, 7913372
Dhaka-1215 E-mail: kawranbazar.manager@uttarabank-bd.com 17, Mymensingh Road, 01991-144176
Swift:UTBLBDDH455 Sector -3, Uttara Model Town E-mail: uttara.manager@uttarabank-bd.com
7 Foreign Exchange Branch (02) 9551881, 9552375 Dhaka-1230 Swift:UTBLBDDH465
69, Dilkusha C/A 01991-144124
Dhaka-1000 FAX: 880-2-9552375 Dhaka South Zone
E-mail: foreignexch.manager@uttarabank-bd.com 18 Chawk Bazar Branch (02) 7319173, 7312168
Swift:UTBLBDDH435 5, Begum Bazar (1st Floor) 01991-144194
Chawk Bazar, Dhaka-1100 FAX:880-2-7139173
8 Nawabpur Branch (02) 9552302, 9555690 E-mail: chawkbzrdhk.manager@uttarabank-bd.com
150, Nawabpur Road E-mail: nawabpur.manager@uttarabank-bd.com Swift:UTBLBDDH434
Taj Electric Market (1st Floor) Swift:UTBLBDDH454 19 English Road Branch
Dhaka-1000 79,Shahid Syed Nazrul Islam (02) 9556388, 01991-144197
Sarani (Former: 9/A, Malitola FAX:880-2-7114527
9 Ramna Branch (02) 9565764, 01991-144138
Lane), English Road, E-mail: englishrd.manager@uttarabank-bd.com
22/2, Comrade Monisingh Road FAX: 880-2-9551154
Dhaka-1100 Swift:UTBLBDDH464
Purana Paltan, Mukti Bhaban E-mail: ramna.manager@uttarabank-bd.com
(1st Floor) Dhaka-1000 Swift:UTBLBDDH438
20 Islampur Branch (02) 57390379, 57392546
10 Shantinagar Branch (02) 9333898, 01991-144139 95, Islampur Road, Mostofa 01991-144200
Kulsum Tower 40-41, FAX: 880-2-8319041 Mansion (1st Floor),Islampur, FAX:880-2-57392546
Siddeswari Circular Road. E-mail: shantinagar.manager@uttarabank-bd.com Dhaka-1100 E-mail: islampur.manager@uttarabank-bd.com
Shantinagar, Dhaka-1214 Swift:UTBLBDDH451 Swift:UTBLBDDH436

LIST OF THE BRANCHES AUTHORISED TO HANDLE FOREIGN EXCHANGE
Name & Address of AD Branches Cable Address Name & Address of AD Branches Cable Address
21 Moulvibazar Branch (02) 57315839, 57317219 30 Pabna Branch (0731) 66180, 01991-144344
66, Moulvi Bazar,Tajmahal 01991-144202 Sonapatty FAX: 880-731-66089
Tower Complex (1st Floor) E-mail: moulovibazardhk.manager@uttarabank-bd.com Pabna-6600 E-mail: pabna.manager@uttarabank-bd.com
Dhaka-1100 Swift:UTBLBDDH448 Swift:UTBLBDDH466
31 Shaheb Bazar Branch
Narayangonj Zone House-75, Ward-12, Al-Hasib (0721) 774906, 01991-144347
22 Narayanganj Branch (02) 7633655,7633653 Plaza (1st Floor), Shaheb Bazar FAX: 880-721-772182
E-mail: narayangonj.manager@uttarabank-bd.com Ganak Para, Ghoramara, E-mail: shahebbzr.manager@uttarabank-bd.com
150, B.B. Road,
Swift:UTBLBDDH437 Boalia, Rajshahi-6000 Swift:UTBLBDDH445
Narayanganj-1400
Bogra Zone
Mymensingh Zone 32 Bogra Branch (051) 66228, 78439, 73439
23 Mymensingh Branch (091) 67144, 52218 Habib Mansion, Kazi Nazrul FAX:880-51-78081
41/A, Chotta Bazar(1st Floor) 01991-144253 Islam Road, Bogra E-mail: bogra.manager@uttarabank-bd.com
Bipin Sen Road, Kotowali FAX:880-91-67144 Swift:UTBLBDDH447
Mymensingh-2200 E-mail: mymensingh.manager@uttarabank-bd.com 33 Naogaon Branch (0741) 62184, 62540
Swift:UTBLBDDH459 01991-144363
Mafizuddin Market, Main
24 Haluaghat Branch Road, Noagaon-6500 FAX: 880-741-62540
Uttar Bazar (09026)56160, 01991-144249 E-mail: naogaon.manager@uttarabank-bd.com
PO & P.S:Haluaghat E-mail: haluaghat.manager@uttarabank-bd.com Swift:UTBLBDDH469
Mymensingh-2260 Swift:UTBLBDDH470 34 Rangpur Branch
Dewanbari Road (0521) 62132, 66209
Lohapotti 01991-144367
Chittagong Zone Rangpur-5400 FAX: 880-521-66209
25 Agrabad Branch (031)715846, 715847, 725739 E-mail: rangpur.manager@uttarabank-bd.com
74, Agrabad C/A, 01991-144266 Swift:UTBLBDDH446
Chittagong-4100 FAX: 880-31-724652 Khulna Zone
E-mail: agrabad.manager@uttarabank-bd.com 35 Jessore Branch (0421) 64081, 01991-144389
Swift:UTBLBDDH439 Municipal Road (Chowrasta), FAX: 880-421-68513
Jessore-7400 E-mail: jessore.manager@uttarabank-bd.com
Swift:UTBLBDDH456
26 Khatungonj Branch (031) 611306, 638447
M.J. Trade Center (2nd Floor) 01991-144275 36 Sir Iqbal Road Branch (041) 720427, 721090
263/284 Khatunganj,Ward-35 FAX: 880-31-638447 2/A, Sir Iqbal Road 01991-144401
Chittagong City Corp, Kotwali E-mail: khatungonj.manager@uttarabank-bd.com Khulna-9100 FAX: 880-431-720417
Chittagong-4000 Swift:UTBLBDDH442 E-mail: siriqbalrd.manager@uttarabank-bd.com
Swift:UTBLBDDH443
27 Laldighi Branch (031) 630729, 637276 Barisal Zone
120, Laldighi West 01991-144276 37 Barisal Branch (0431) 64175, 64407
Kotwali, Chittagong-4000 FAX: 880-31-637276 Aryya Laxmi Bhaban 01991-144416
E-mail: laldighictg.manager@uttarabank-bd.com 99, Sadar Road, FAX:880-431-63846
Swift:UTBLBDDH450 Barisal-8200 E-mail: barisal.manager@uttarabank-bd.com
Comilla Zone Swift:UTBLBDDH444
28 Comilla Branch (081) 76271, 76878 Sylhet Zone
115/1-2, Nazrul Avenue 01991-144310 38 Sylhet Branch (0821) 714484, 711998
Ray Complex, Kandirpar FAX:880-02-7317219 Shahir Plaza (1st Floor) 01991-144472
Comilla-3500 E-mail: comilla.manager@uttarabank-bd.com East Zindabazar, Sylhet-3100 FAX: 880-821-724209
Swift:UTBLBDDH441 E-mail: sylhet.manager@uttarabank-bd.com
Swift:UTBLBDDH440
Rajshahi Zone 39 Sunamganj Branch (0871) 61329, 61671
29 Natore Branch (0771) 62669, 01991-144342 Hotel Palace (1st Floor) 01991-144471
Holding No : 98 FAX: 880-771-66908 Holding No.0717-00, Station FAX: 880-871-61671
Ward No:6 E-mail: natore.manager@uttarabank-bd.com Road (Mejor Ikbal Road) E-mail: sunamganj.manager@uttarabank-bd.com
anaikhali, Natore-6400 Swift:UTBLBDDH467 Sunamganj-3000 Swift:UTBLBDDH468

List of our Correspondents with whom we have RMA arrangement as on
31 December 2016
AUSTRALIA 60 SONALI BANK LIMITED DHAKA
1 AUSTRALIA AND NEW ZEALAND 61 THE TRUST BANK LTD. DHAKA
BANKING GROUP LTD. MELBOURNE 62 NRB COMMERCIAL BANK LIMITED DHAKA
2 BANK OF WESTERN AUST. SYDNEY 63 SOUTH BANGLA AGRICULTURE AND
3 BNP PARIBAS SYDNEY COMMERCE BANK LTD. DHAKA
4 WESTPAC BANKING CORPORATION SYDNEY 64 MEGHNA BANK LIMITED DHAKA
5 WESTPAC BANKING CORPORATION (FOR 65 MIDLAND BANK LIMITED DHAKA
ALL NEW SOUTH WALES BRANCHES) SYDNEY 66 UNION BANK LIMITED DHAKA
6 COMMONWEALTH BANK OF 67 NRB BANK LTD. DHAKA
AUSTRALIA LTD. SYDNEY 68 MODHUMOTI BANK LIMITED DHAKA
7 JPMORGAN CHASE BANK N.A. SYDNEY (H.O) 69 THE FARMERS BANK LIMITED DHAKA
AUSTRIA 70 NRB GLOBAL BANK LIMITED DHAKA
8 ERSTE BANK DER OESTERREICHISCHEN BELGIUM
SPARKASSEN AG VIENNA 71 BELFIUS BANK SA/NV BRUSSELS
9 ERSTE GROUP BANK AG VIENNA 72 CBC BANQUE S.A. BELGIUM
10 RAIFFEISEN ZENTRALBANK 73 COMMERZ BANK AG, BRUSSELS BRANCH BRUSSELS
OESTERREICH AG VIENNA 74 DEUTSCHE BANK A.G. BRUSSELS
11 RAIFFEISENLANDESBANK 75 FORTIS BANK, BRUSSELS BRUSSELS
OBEROESTERREICH 76 KBC BANK NV BRUSSELS
AKTIENGESELLSCHAFT LINZ 77 UNION BANK OF INDIA BRUSSELS
12 UNICREDIT BANK AUSTRIA AG VIENNA BHUTAN
BAHARAIN 78 BANK OF BHUTAN PHUNTSHOLING
13 ALUBAF ARAB INTERNATIONAL BANK 79 BHUTAN NATIONAL BANK LTD. THIMPHU
B.S.C.(C) MANAMA
80 DRUK PNB BANK LIMITED THIMPHU
14 ARAB INVESTMENT COMPANY, THE MANAMA
BRAZIL
15 UNITED BANK LIMITED MANAMA
81 HSBC BANK BRASIL S.A.- BANCO MULTIPLO SAO PAULO
16 BMI BANK BSC (C) MANAMA
82 BANCO DO ESTADO DO RIO GRANDE DO
17 ICICI BANK LTD MANAMA SUL S/A, PORTO ALEGRE BRAZIL. PORTO ALEGRE
BANGLADESH BRUNEI
18 AB BANK LTD. DHAKA 83 STANDARD CHARTERED BANK - BRUNEI BANDAR SERI
19 AGRANI BANK LIMITED DHAKA BEGAWAN
20 BANGLADESH COMMERCE BANK LTD. DHAKA BULGARIA
21 BANK ASIA LTD. DHAKA 84 RAIFFEISENBANK (BULGARIA) EAD SOFIA
22 CITY BANK LTD. THE DHAKA 85 FIRST INVESTMENT BANK AD SOFIA
23 EXPORT IMPORT BANK OF CANADA
BANGLADESH LTD. DHAKA 86 BANK OF MONTREAL, THE TORANTO
24 HABIB BANK LTD. DHAKA 87 HABIB CANADIAN BANK MISSISSAUGA
25 HSBC LTD. * DHAKA 88 HSBC BANK CANADA TORANTO
26 IFIC BANK LTD. DHAKA 89 ICICI BANK CANADA TORANTO
27 JAMUNA BANK LTD. DHAKA 90 SOCIETE GENERALE (CANADA) MONTREAL
28 MUTUAL TRUST BANK LTD. DHAKA 91 BANK OF NOVA SCOTIA
29 NATIONAL BANK LTD. DHAKA CHILE
30 RUPALI BANK LTD DHAKA 92 BANCO CENTRAL DE CHILE SANTIAGO
31 SHAHJALAL ISLAMI BANK LIMITED DHAKA CHINA
32 SOCIAL ISLAMI BANK LTD DHAKA 93 AGRICULTURAL BANK OF CHINA BEIJING
33 SOUTHEAST BANK LIMITED DHAKA 94 AUSTRALIA AND NEW ZEALAND
34 WOORI BANK DHAKA BANKING GROUP LTD. SHANGHAI
35 AL-ARAFAH ISLAMI BANK LTD. DHAKA 95 BANK OF CHINA CHANGZHOU
36 BANGLADESH BANK DHAKA 96 BANK OF COMMUNICATION NANJING
37 BANGLADESH KRISHI BANK DHAKA 97 BANK OF NANJING (FORMERLY NANJING
38 BASIC BANK LTD. DHAKA CITY COMMERCIAL) NANJING
39 BRAC BANK LTD. DHAKA 98 BANK OF NEW YORK SHANGHAI
40 COMMERCIAL BANK OF CEYLON LTD. DHAKA 99 BANK OF TOKYO - MITSHUBISHI LTD. BEIJING
41 DHAKA BANK LTD. DHAKA 100 BANK OF TOKYO - MITSHUBISHI LTD. SHANGHAI
42 DUTCH BANGLA BANK LTD. DHAKA 101 BANK OF TOKYO - MITSHUBISHI UFJ
43 EASTERN BANK LTD. DHAKA (CHINA) LTD. TIANJIN
44 FIRST SECURITY BANK LTD. DHAKA 102 CITIBANK (CHINA) CO. LTD. SHANGHAI
45 ICB ISLAMIC BANK LTD. DHAKA 103 COMMERZ BANK SHANGHAI
46 ISLAMI BANK BANGLADESH LTD. DHAKA 104 DEUTSCHE BANK (CHINA) COMPANY LTD. SHANGHAI
47 JANATA BANK LTD. DHAKA 105 GUANGDONG DEVELOPMENT BANK GUANGZHOU
48 MERCANTILE BANK LTD. DHAKA 106 HONGKONG & SHANGHAI BANKING CORP. SHANGHAI
49 NCC BANK LTD. DHAKA 107 HUA XIA BANK BEIJING
50 ONE BANK LTD. DHAKA 108 INDUSTRIAL & COMMERCIAL BANK OF
51 PRIME BANK LTD. DHAKA CHINA BEIJING
52 PUBALI BANK LTD. DHAKA 109 JIANGYIN RURAL COMMERCIAL BANK JIANGYIN
53 STANDARD BANK LTD. DHAKA 110 KBC BANK NV SHANGHAI
54 STATE BANK OF INDIA DHAKA 111 NINGBO COMMERCIAL BANK NINGBO
55 THE PREMIER BANK LTD. DHAKA 112 STANDARD CHARTERED BANK (CHINA)
56 UNITED COMMERCIAL BANK LTD. DHAKA LIMITED SHANGHAI
57 STANDARD CHARTERED BANK DHAKA 113 WACHOVIA BANK NA SHANGHAI
58 NATIONAL BANK OF PAKISTAN DHAKA 114 XIAN CITY COMMERCIAL BANK XIAN
59 BANK ALFALAH LTD. DHAKA 115 YINZHOU BANK NINGBO

116 ZHEJIANG TAILONG COMMERCIAL BANK TAIZHOU 177 DEUTSCHE BANK AG FREIBURG IM
117 ANSHAN CITY COMMERCIAL BANK ANSHAN BREISGAU
118 NANIXUN BANK HUZHOU 178 DEUTSCHE BANK AG CHEMNITZ
119 RURAL COMMERCIAL BANK OF 179 DEUTSCHE BANK AG ERFURT
ZHANGJIAGANG ZHANGJIAGANG 180 DEUTSCHE BANK AG LEIPZIG
120 BANK OF DALIAN DALIAN 181 DEUTSCHE BANK AG BERLIN
121 BANK OF YINGKOU YINGKOU 182 DEUTSCHE BANK AG ROSTOCK
122 LAISHANG BANK CO. LTD. (F: LAIWU 183 DEUTSCHE BANK AG FRANKFURT
CITY COMMERCIAL BANK CO.LTD.) LAIWU 184 DEUTSCHE BANK AG DUESSELDORF
123 BANK OF JILIN CO. LTD. CHANGCHUN 185 DEUTSCHE BANK AG KOELN
124 ZHEJIANG SHAOXING COUNTY RURAL 186 DEUTSCHE BANK AG WUPPERTAL
COPERATIVE BANK SHAOXING 187 DEUTSCHE BANK AG FRANKFURT
125 NINGBO CIXI RURAL COOPERATIVE BANK CIXI 188 DEUTSCHE BANK AG BREMEN
126 BANK OF JIANGSU CO LTD NANJING 189 DEUTSCHE BANK AG HAMBURG
127 BANK OF JINING CO.LTD JINING 190 DEUTSCHE BANK AG MUENCHEN
128 BANK OF WENZHOU (FORMERLY 191 DEUTSCHE BANK AG MANNHEM
WENZHOU CITY COMMERCIAL BANK) WENZHOU 192 DEUTSCHE BANK AG STUTTGART
129 PING AN BANK CO. LTD. (FORMERLY 193 DRESDNER BANK AG, FRANKFURT
SHENZHEN DEVELOPMENT BANK CO. LTD.) SHENZHEN 194 HAMBURGES SPARKASSE HUMBURGERS
130 CHONGQING THREE GORGES BANK CHONGQING 195 SPARKASSE HANNOVER HANNOVER
131 GUANGDONG NANHAI RURAL 196 SPARKASSE KREFELD KREFELD
COMMERCIAL BANK COMPANY LTD. NANHAI 197 SPARKASSE MUELHEIM AN DER RUHR MUELHEIM
132 JIANGSU ZINJIN RURAL COMMERCIAL (RUHR)
BANK CO. LTD. NANJING 198 UNICREDIT BANK AG (HYPO UND
133 CHONGQING RURAL COMMERCIAL BANK CHONGQING VERREINS BANK) MUENCHEN
134 HARBIN BANK CO.,LTD HARBIN 199 STANDARD CHARTERED BANK LTD. FRANKFURT
135 HUARONG XIANGJIANG BANK CHANGSHA 200 HSH NORDBANK AG (MERGER OF
136 JIANGSU WUJIANG RURAL HAMBURGISCHE LANDESBANK AND
COMMERCIAL BANK WUJIANG LANDESBANK SCHLESWIG-HOLS HAMBURG
137 COMMERZBANK AG BEIJING BRANCH BEIJING 201 ICICI BANK UK PLC FRANKFURT
138 ICICI BANK LTD SHANGHAI 202 RAIFFEISENLANDESBANK
139 HANKOU BANK (FORMERLY WUHAN OBEROESTERREICH
URBAN COMMERCIAL BANK) WUHAN AKTIENGESELLSCHAFT
140 JIANGSU HAIAN RURAL COMMERCIAL BANK NANTONG ZWEIGNIEDERLASSUNG BAYER PASSAU
141 JIANGSU JIANGYAN RURAL 203 SPARKASSE DUISBURG DUISBURG
COMMERCIAL BANK CO. LTD JIANGSU 204 VOLKSBANK PADERBORN HOEXTER-
CYPRUS DETMOLD EG PADERBORN
142 CO-OPERATIVE CENTRAL BANK LTD. NICOSIA 205 JP MORGAN FRUNKFRUT
143 ALPHA BANK CYPRUS LIMITED NICOSIA GREECE
(LEFKOSIA) 206 ALPHA BANK AE ATHENS
CZECH REPUBLIC 207 BAYERISCHE HYPO-UND VEREINSBANK AG. ATHENS
144 CESKA SPORITELNA AS PRAGUE GUADELOUPE
145 COMMERZBANK AG PRAGUE 208 BANQUE DES ANTILLES FRANCAISES BAIE MAHAULT
146 KOMERCNI BANKA A.S. PRAGUE HONG KONG
DENMARK 209 AXIS BANK LTD. HONG KONG
147 DANSKE BANK A/S COPENHAGEN 210 BANK OF AMERICA N.A. HONGKONG HONGKONG
148 SKJERN BANK SKJERN 211 BANK OF NEW YORK HONGKONG
149 SYDBANK A/S AABENRAA 212 BANK OF TOKYO - MITSHUBISHI LTD. HONGKONG
EGYPT 213 BAYERISCHE HYPO-UND VEREINSBANK AG. HONGKONG
150 BANQUE DU CAIRE CAIRO 214 BNP PARIBAS HONGKONG BRANCH HONGKONG
151 MASHREQ BANK CAIRO 215 COMMERZ BANK, AG. HONGKONG
152 BANK AUDI SAE CAIRO 216 DEUTSCHE BANK AG HONG KONG
FINLAND 217 HBZ FINANCE LTD. HONGKONG
153 POHJOLA PANKKI OYJ (POHJOLA BANK PLC) HELSINKI 218 HONGKONG & SHANGHAI BANKING CORP. HONGKONG
154 DANSKE BANK HELSINKI 219 ICICI BANK LIMITED. HONGKONG
FRANCE 220 INTESA SANPAOLO SPA HONG KONG HONG KONG
155 BANQUE POPULAIRE LORPAINE 221 J.P. MORGAN CHASE BANK NA HONG KONG
CHAMPAGNE METZ 222 MASHREQBANK PSC HONGKONG
156 BNP PARIBAS SA PARIS 223 MIZHOU CORPORATE BANK, LTD. HONGKONG
157 CM - CIC BANQUES (CM-CIC CREDIT 224 SEVENESKA HANDELS BANKEN HONGKONG
INDUSTRIEL ET COMMERCIAL- CIC) PARIS 225 STANDARD CHARTERED BANK (HONG
158 COMMERZ BANK PARIS KONG) LTD HONG KONG
159 FRANSABANK FRANSA S.A. PARIS 226 WELLS FARGO BANK N.A. HONGKONG
160 KBC BANK N.V PARIS PARIS 227 ABN AMRO BANK N.V. HONG KONG
161 NATIXIS (EX NATEXIS BANQUES 228 DBS BANK (HONG KONG) LIMITED HONG KONG
POPULARIES) PARIS 229 CITIBANK N.A. HONG KONG
162 SOCIETE GENERALE PARIS 230 EBL FINANCE (HK) LIMITED KOWLOON
163 CITIBANK INTERNATIONAL PLC PARIS 231 AB FINANCE LTD. HONG KONG
164 HSBC FRANCE(FORMERLY HSBC CCF), PARIS 232 CHIYU BANKING CORP. LTD. HONG KONG
165 BANQUE NEUFLIZE OBC PARIS 233 PBL FINANCE (HONG KONG) LTD. HONG KONG
166 CREDIT DU NORD LILLE HUNGARY
GERMANY 234 BUDAPEST BANK RT. BUDAPEST
167 BANKHAUS NEELMEYER AG BREMEN 235 MAGYAR EXPORT IMPORT BANK RT. BUDAPEST
168 BERENBERG,JOH.,GOSSLER UND CO. HAMBURG 236 UNCREDIT BANK HUNGARY ZRT BUDAPEST
169 BHF BANK FRANKFURT INDIA
170 COMMERZ BANK BERLIN 237 ANDHRA BANK NEW DILHI
171 COMMERZ BANK DUESSELDORF 238 ARAB BANGLADESH BANK MUMBAI
172 COMMERZ BANK FRANKFURT 239 AXIS BANK LTD. MUMBAI
173 COMMERZ BANK HAMBURG 240 BANK OF AMERICA N.A. MUMBAI MUMBAI
174 DEUTSCHE BANK AG HANNOVER 241 BANK OF CEYLON CHENNAI
175 DEUTSCHE BANK AG BIELEFELD (MADRAS)
176 DEUTSCHE BANK AG MAINZ

242 BANK OF INDIA MUMBAI RIMINI SPA
243 BANK OF MAHARASTRA MUMBAI 310 CASSA DI RISPARMIO IN BOLOGNA SPA-
244 BANK OF TOKYO - MITSHUBISHI LTD. CHENNAI CARISBO S BOLOGNA
245 BANK OF TOKYO - MITSHUBISHI LTD. MUMBAI 311 BANCA UBAE SPA, ROMA
246 BNP PARIBAS HYDERABAD 312 CASSA DI RISPARMIO DEL FRIULI
247 CANARA BANK MUMBAI VENEZIA GIULIA SPA SEDE DI UDINE
248 DEVELOPMENT CREDIT BANK MUMBAI 313 CASSA DI RISPARMIO DI BOLZANO S.P.A. BOLZANO
249 FEDERAL BANK LIMITED MUMBAI 314 UBI BANCA (UNIONE DI BANCHE
250 HONGKONG & SHANGHAI BANKING CORP. NEW DILHI ITALIANE) S.C.P.A. BERGAMO
251 ICICI BANK LIMITED. HYDERABAD 315 BANCA POPOLARE DI VICENZA SCPARL HEAD OFFICE,
252 INDIAN OVERSEAS BANK MUMBAI VICENZA
253 MASHREQ BANK, MUMBAI 316 BANCA POPOLARE VALCONCA MORCIANO DI
254 PUNJAB NATIONAL BANK MUMBAI ROMAGNA
255 SONALI BANK KOLKATA 317 CASSA DI RISPARMIO DI RAVENNA S.P.A. RAVENNA
256 STANDARD CHARTERED BANK MUMBAI 318 BANCA DI BOLOGNA CREDITO
257 STATE BANK OF INDIA MUMBAI COOPERATIVO BOLOGNA
258 SYNDICATE BANK MUMBAI 319 VENETO BANCA SCPA MONTEBELLUNA
259 TAMILNAD MERCANTILE BANK LIMITED CHENNAI 320 BANCA POPOLARE DELL'ALTO
(MADRAS) ADIGE/SUEDTIROLER VOLSSBANK
BOLZANO BOLZANO
260 UNION BANK OF INDIA MUMBAI
JAPAN
261 UNITED BANK OF INDIA MUMBAI
321 BANK OF NEW YORK TOKYO
262 VIJAYA BANK MUMBAI
322 BANK OF TOKYO - MITSHUBISHI LTD. TOKYO
263 CENTRAL BANK OF INDIA MUMBAI
323 CHIBA KOGYO BANK, LTD. TOKYO
264 INDUSIND BANK LIMITED. MUMBAI
324 HONGKONG & SHANGHAI BANKING
265 HDFC BANK LTD. MUMBAI
CORP.(HSBC) TOKYO
266 ALLAHABAD BANK TREASURY
325 KOOKMIN BANK TOKYO BRANCH TOKYO
DIVISION, MUBAI
326 OKAZAKI SHINKIN BANK, THE OKAZAKI
267 BANK INTERNASIONAL INDONESIA MUMBAI
327 RESONA BANK LTD. TOKYO
268 UCO BANK MUMBAI
328 SAITAMA RESONA BANK, LIMITED TOKYO
269 KARNATAKA BANK LTD. MUMBAI
329 STANDARD CHARTERED BANK TOKYO
270 MIZUHO BANK LIMITED MUMBAI
330 SUMITOMO MITSUI BANKING
INDONESIA
CORPORATION TOKYO
271 ANZ PANIN BANK, P.T. JAKARTA
331 WELLS FARGO BANK N.A TOKYO
272 BANK CHINATRUST INDONESIA,PT JAKARTA
332 DEUTSCHE BANK AG TOKYO
273 BANK INTERNASIONAL INDONESIA JAKARTA
333 TOWA BANK LTD., THE GUNMA
274 BANK NEGARA INDONESIA-PT JAKARTA
334 THE SENSHU IKEDA BANK, LTD. OSAKA
275 BANK OF TOKYO - MITSHUBISHI LTD. JAKARTA
JARDAN
276 CITIBANK N.A. JAKARTA
335 ARAB BANK PLC AMMAN
277 HONGKONG & SHANGHAI BANKING
KENYA
CORP. (HSBC) JAKARTA
336 DUBAI BANK KENYA LTD. NAIROBI
278 STANDARD CHARTERED BANK JAKARTA
337 NATIONAL BANK OF KENYA LTD. NAIROBI
279 PT. BANK SBI INDONESIA, JAKARTA
338 PARAMOUNT UNIVERSAL BANK LTD. NAIROBI
280 BANK MANDIRI (PERSERO) PT JAKARTA
KUWAIT
281 BANK BUKOPIN JAKARTA
339 BURGAN BANK, KUWAIT KUWAIT
282 PT. BANK MAYAPADA INTERNATIONAL TBK JAKARTA
340 COMMERCIAL BANK OF KUWAIT SAK, KUWAIT
283 BANK SINARMAS JAKARTA
341 NATIONAL BANK OF KUWAIT KUWAIT
284 BANK RAKYAT INDONESIA JAKARTA
342 OMAN EXCHANGE COMPANY WLL SAFAT
IRELAND
LITHUANIA
285 CITIBANK EUROPE PLC DUBLIN
343 AB CITADELE BANKAS VILNIUS
286 WELLS FARGO BANK INTERNATIONAL DUBLIN
LUXEMBOURG
287 NATIONAL IRISH BANK (PART OF
DANSKE BANK GROUP) DUBLIN 344 HSBC REPUBLIC BANK (SUISSE) S.A. LUXAMBURG
ITALY MACEDONIA
288 BANCA DELLE MARCHE SPA ANCONA 345 STOPANSKA BANKA AD BITOLA BITOLA
289 BANCA MONTE DEI PASCHI DI SIENA S.P.A MILANO MALAYSIA
290 BANCA NAZIONALE DEL LAVORO S.P.A. ROMA 346 CIMB BANK BERHAD KUALALUMPUR
291 BANCA POPOLARE DELL'EMILIA 347 HSBC BANK MALAYSIA BERHAD KUALALUMPUR
ROMAGNA MODENA 348 RHB BANK BERHAD KUALA LUMPUR
292 BANCO POPOLARE VERONA 349 STANDARD CHARTERED BANK
293 BANK OF TOKYO - MITSHUBISHI LTD. MILANO MALAYSIA BERHAD KUALA LUMPUR
294 BIVERBANCA CASSA DI RISPARMIO DI MEXICO
BIELLA E VERCEL ROMA 350 HSBC MEXICO S.A. MEXICO
295 CASSA DI RISPARMIO DI CESENA S.P.A. CESENA 351 BANK OF AMERICA MEXICO
296 CASSA DI RISPARMIO DI CIVITAVECCHIA SPA CIVITAVECCHA MOLDOVA
297 CASSA DI RISPARMIO DI FIRENZE S.P.A. FIRENZE 352 JOINT-STOCK COMMERCIAL
298 CASSA DI RISPARMIO DI PISTOIA E VICTORIABANK CHISINAU
PESCIA S.P.A. PISTOIA MONACO
299 COMMERZBANK AG MILANO 353 HSBC PRIVATE BANK (MONACO) SA (F:
300 CREDITO BANGAMASCO ROMA HSBC REPUBLIC BANK) S.A. MONACO
301 CREDITO VALTELLINESE SONDRIO MOROCCO
302 DEUTSCHE BANK AG MILANO 354 CITIBANK MAGHREB CASABLANCA
303 ICCREA BANCA - ISTITUTO CENTRAL DEL NEPAL
CREDITO COOP ROMA 355 HIMALAYAN BANK LTD. KATHMANDU
304 INTESA SANPAOLO SPA MILANO (HO) 356 NEPAL BANGLADESH BANK LIMITED. KATHMANDU
305 MIZHOU CORPORATE BANK, LTD. MILANO 357 NEPAL BANK LIMITED KATHMANDU
306 TERCAS-CASSA DI RISPARMIO DELLA 358 NEPAL INDUSTRIAL AND COMMERCIAL
PROVINCIA DI TERAMO S.P.A. TERAMO BANK LTD. KATHMANDU
307 UNICREDIT S.P.A. MILANO 359 STANDARD CHARTERED BANK NEPAL
308 CASSA DI RISPARMIO DI PADOVA E LIMITED KATHMANDU
ROVIGO SPA PADOVA 360 SUNRISE BANK LIMITED KATHMANDU
309 BANCA CARIM-CASSA DI RISPARIMIO DI RIMINI NETHERLAND
361 ABN AMRO BANK N.V., AMSTERDAM

362 ABN AMRO BANK N.V., ROTTERDUM 418 STANDARD CHARTERED FIRST BANK
363 BANK OF AMERICA AMSTERDAM KOREA LTD SEOUL
364 COMMERZBANK AG KANTOOR 419 SUHYUP BANK (FORMERLY NATIONAL
AMSTERDAM AMSTERDAM FED. OF FISHERIES SEOUL
365 DEUTSCHE BANK NEDERLAND N.V. AMSTERDAM 420 WELLS FARGO BANK N.A SEOUL
366 CREDIT EUROPE BANK N.V. AMSTERDAM 421 WOORI BANK SEOUL
367 BNP PARIBAS S.A. - THE NETHERLANDS 422 CITIBANK KOREA INC, SEOUL
BRANCH AMSTERDAM SAUDI ARABIA
NEW ZEALAND 423 AL RAJHI BANK RIYADH
368 ANZ NATIONAL BANK LTD. ( F: ANZ 424 ARAB NATIONAL BANK RIYADH
BANKING GROUP LTD.) WELLINGTON 425 BANK AL JAZIRA RIYADH
369 ASB BANK LTD. AUCKLAND 426 SAUDI HOLLANDI BANK RIYADH
370 BANK OF NEW ZEALAND WELLINGTON 427 SAUDI INVESTMENT BANK, THE RIYADH
371 GENERAL EQUITY BUILDING SOCIETY AUCKLAND 428 ALAMOUDI EXCHANGE COMPANY JEDDAH
NORWAY 429 SAMBA FINANCIAL GROUP RIYADH
372 DNB NOR BANK ASA OSOLO 430 STATE BANK OF INDIA JEDDAH
373 FOKUS BANK A/S TRONDHEIM 431 NATIONAL BANK OF PAKISTAN RIYADH
OMAN
374 BANKMUSCAT SAOG MUSCAT SIERRA LEONE
375 STANDARD CHARTERED BANK MUSCAT
376 OMAN AND UAE EXCHANGE CENTRE CO LLC RUWI 432 STANDARD CHARTERED BANK SIERRA
PAKISTAN LEONE LTD FREETOWN
377 BANK AL HABIB LTD. KARACHI
378 HABIB METROPOLITAN BANK LIMITED. KARACHI SINGAPORE
379 NDLC IFIC BANK LTD. KARACHI
380 STANDARD CHARTERED BANK 433 AUSTRALIA AND NEW ZEALAND
(PAKISTAN) LIMITED KARACHI BANKING GROUP LTD. SINGAPORE
381 UNITED BANK LIMITED KARACHI 434 AXIS BANK LTD. SINGAPORE
382 NATIONAL BANK OF PAKISTAN KARACHI 435 BANK OF AMERICA SINGAPORE
383 BURJ BANK LIMITED KARACHI 436 BANK OF AMERICA N.A SINGAPORE SINGAPORE
384 SUMMIT BANK LTD KARACHI 437 BANK OF TOKYO MITSUBISHI LTD.` SINGAPORE
PAPUA NEW GUINEA 438 BNP PARIBAS SINGAPORE
385 AUSTRALIA AND NEW ZEALAND 439 COMMERZ BANK, SINGAPORE. SINGAPORE
BANKING GROUP (PNG) LTD. PORT MORESBY 440 DBS BANK LTD. SINGAPORE
PERU 441 DEUTSCHE BANK AG SINGAPORE
386 BANCO INTERNACIONAL DEL PERU 442 ICICI BANK LIMITED. SINGAPORE
(INTER BANK) LIMA 443 KBC BANK N.V SINGAPORE
387 BANCO DE CREDITO DEL PERU LIMA PE LIMA 444 MIZHOU CORPORATE BANK, LTD. SINGAPORE
PHILIPPINES 445 STANDARD CHARTERED BANK SINGAPORE
388 BANK OF AMERICA MANILA 446 SUMITOMO MITSUI BANKING
389 BNP PARIBAS MANILA CORPORATION SINGAPORE
POLAND 447 STATE BANK OF INDIA SINGAPORE
390 BANK MILLENNIUM S.A. WARSZAWA 448 CHINATRUST COMMERCIAL BANK SINGAPORE
391 BANK POLSKA KASA OPIEKI SA-BANK BRANCH
PEKAO SA WARSZAWA 449 ABN AMRO BANK N.V. SINGAPORE
392 BANK PRZEMYSLOWO - HANDLOWY BRANCH
PBK SA KRAKOW 450 BANK MANDIRI (PERSERO) TBK. PT SINGAPORE
393 FORTIS BANK POLSKA S.A. WARSZAWA 451 CITIBANK,N.A. SINGAPORE
394 POWSZECHNA KASA OSZCZEDNOSCI 452 FIRST GULF BANK SINGAPORE
BANK POLSKI SA WARSZAWA 453 WELLS FARGO BANK , NA SINGAPORE
395 RAIFFEISEN BANK POLSKA S.A. WARSZAWA 454 HSBC BANK SINGAPORE
396 HSBC BANK POLSKA S.A. WARSZAWA SLOVAKIA
397 ALIOR BANK ACKYJNA WARSJAWA 455 SLOVENSKA SPORITELNA AS BRATISLAVA
PORTUGAL 456 UNICREDIT BANK SLOVAKIA A. S.
398 BANCO POPULAR PORTUGAL, S.A. LISBON (UNICREDITO ITALIANO GROUP) BRATISLAVA
QATAR SLOVENIA
399 MASHREQ BANK DOHA 457 BANK AUSTRIA CREDITANSTALT D.D. LJUBLJANA
400 UNITED BANK LIMITED, DOHA DOHA SOUTH AFRICA
401 QATAR NATIONAL BANK DOHA 458 CITIBANK SOUTH AFRICA JOHANNESBURG
402 STANDARD CHARTERED BANK DOHA 459 FIRSTRAND BANK LTD. JOHANNESBURG
REUNION 460 STANDARD BANK OF SOUTH AFRICA
403 BANQUE DE LA REUNION SAINT DENIS LIMITED,THE JOHANNESBURG
404 BANQUE FRANCAISE COMMERCIAL DE SPAIN
L'OCEAN INDIEN SAINT DENIS 461 BANCO DE SABADELL S.A. SABADELL
ROMANIA 462 BANCO POPULAR ESPANOL, MADRID
405 BANCA ROMANA PENTRU RELANSARE 463 BNP PARIBAS MADRID
ECONOMICA BUCHAREST 464 CAJA LABORAL POPULAR,COOP.DE
406 ROMANIAN COMMERCIAL BANK BUCHAREST CREDITO MONDRAGON
407 PIRAEUS BANK ROMANIA BUCHAREST 465 CITI BANK, ESPANA SA MADRID
408 UNICREDIT TIRIAC BANK SA BUCHAREST 466 COMMERZ BANK AG MADRID
RUSSIA 467 BANCO ESPANOL DE CREDITO MADRID
409 INTERNATIONAL MOSCOW BANK MOSCOW 468 BANCO SANTANDER S.A. (ALL SPAIN
S. KOREA BRANCHES)
410 DAEGU BANK LTD. THE DAEGU MADRID
411 HANA BANK SEOUL 469 BANKIA S.A. VALENCIA
412 HONGKON & SHANGHAI BANKING CORP. SEOUL 470 CAIXA BANK BARCELONA
413 INDUSTRIAL BANK OF KOREA SEOUL 471 BANQUE MAROCAINE DU COMMERCE, MADRID
414 KOOKMIN BANK KOREA SEOUL SRI LANKA
415 KOREA EXCHANGE BANK SEOUL 472 BANK OF CEYLON COLOMBO
416 PUSAN BANK SEOUL 473 COMMERCIAL BANK OF CEYLON LTD. COLOMBO
417 SHINHAN BANK SEOUL 474 ICICI BANK LIMITED. COLOMBO
475 SEYLAN BANK PLC COLOMBO

476 STANDARD CHARTERED BANK COLOMBO 540 DEUTSCHE BANK AG LONDON
SWEDEN 541 HABIB BANK AG ZURICH LONDON
477 SWEDBANK AB (PUBL) STOCKHOLM 542 ICICI BANK UK PLC LONDON
SWITZERLAND 543 JPMORGAN CHASE BANK LONDON
478 BANQUE DE COMMERCE ET DE 544 KBC BANK N.V LONDON
PLACEMENTS SA GENEVA 545 MASHREQ BANK PSC. LONDON
479 HABIB BANK AG ZURICH ZURICH 546 MIZHOU CORPORATE BANK, LTD. LONDON
480 HSBC REPUBLIC BANK (SUISSE) S.A. GENEVA 547 NORTHERN BANK (PART OF DANSKE
481 ZUERCHER KANTONALBANK ZURICH BANK GROUP) BELFAST
482 ARAB BANK (SWITZERLAND) LTD. ZURICH 548 STANDARD CHARTERED BANK LONDON
483 UNITED BANK A.G., ZURICH ZURICH 549 WELLS FARGO BANK N.A. LONDON
484 COMMERZBANK AG ZURICH 550 WELLS FARGO SECURITIES
TAIWAN INTERNATIONAL LTD. LONDON
485 BANK OF AMERICA N.A. TAIPEI 551 SONALI BANK (UK) LTD. LONDON
486 BANK OF NEW YORK TAIPEI 552 UNITED NATIONAL BANK LONDON
487 DEUTSCHE BANK AG, TAIWAN TAIPEI 553 EURO EXIM BANK LONDON
488 HSBC BANK (TAIWAN) LIMITED* TAIPEI UNITED STATES
489 JPMORGAN CHASE BANK TAIPEI 554 BANK LEUMI USA NEW YORK
490 STANDARD CHARTERED BANK (TAIWAN) 555 BANK OF AMERICA NEW YORK
LIMITED TAIPEI 556 BANK OF AMERICA N.A. NEW YORK
491 WELLS FARGO BANK N.A. TAIPEI 557 BANK OF NEW YORK NEW YORK
492 THE HONG KONG AND SHANGHAI 558 BANK OF TOKYO - MITSHUBISHI LTD. NEW YORK
BANKING CORPORATION LTD. TAIPEI 559 BNP PARIBAS USA NEW YORK BRANCH NEW YORK
493 AUSTRALIA AND NEW ZEALAND 560 BROWN BROTHERS HARRIMAN AND CO. NEW YORK
BANKING GROUP LIMITED TAIPEI 561 CAPITAL ONE,N.A. NEW YORK
494 DBS BANK (TAIWAN) LTD TAIPEI 562 CITI BANK, N.A NEW YORK
495 TAIPEI FUBON COMMERCIAL BANK CO., LTD TAIPEI 563 CREDIT SUISSE FIRST BOSTON NEW YORK
TANZANIA 564 DEUTSCHE BANK TRUST COMPANY
496 CITIBANK TANZANIA LTD. D.SALAAM AMERICAS NEW YORK
497 CRDB BANK LTD. D.SALAAM 565 FIRST AMERICAN BANK NEW YORK
THAILAND 566 HABIB AMERICAN BANK, NEW YORK
498 BANK OF AMERICA BANGKOK 567 HSBC BANK USA. NEW YORK
499 BANK OF AYUDHYA PUB. COM. BANGKOK 568 INTERNATIONAL BANK FOR RECON. DEV. NEW YORK
500 BANK OF TOKYO - MITSHUBISHI LTD. BANGKOK 569 JPMORGAN CHASE BANK NEW YORK
501 CITIBANK N.A. BANGKOK 570 KEYBANK NATIONAL ASSOCIATION CLEVELAND,OH
502 EXPORT IMPORT BANK OF THAILAND BANGKOK 571 MASHREQ BANK PSC. NEW YORK
503 MIZHOU CORPORATE BANK, LTD. BANGKOK 572 NEW YORK COMMERCIAL BANK, WEST BURY
504 SIAM COMMERCIAL BANK PCL., THE BANGKOK 573 RBS CITIZENS, NA PROVIDENCE
505 STANDARD CHARTERED BANK (THAI) PCL BANGKOK 574 REGIONS BANK BIRMINGHAM,AL
506 SUMITOMO MITSUI BANKING 575 SHINHAN BANK AMERICA LOS ANGELES
CORPORATION BANGKOK 576 STANDARD CHARTERED BANK NEW YORK
507 CIMB THAI BANK PUBLIC COMPANY LIMITED 577 SUMITOMO MITSUI BANKING
(F: BANKTHAI PUBLIC COMPANY LTD) BANGKOK CORPORATION NEW YORK
TURKEY 578 TORONTO DOMINION BANK, THE NEW YORK
508 AKBANK T.A.S ISTANBUL 579 U.S. BANK MINNEAPOLIS,MN
509 ANADOLUBANK A.S. ISTANBUL 580 UNION BANK OF NA NEW YORK
510 ASYA FINANS KURUMU A.S. ISTANBUL 581 UNITED BANK LIMITED NEW YORK
511 CITIBANK AS ISTANBUL 582 WELLS FARGO BANK N.A PHILADELPHIA
512 TURKIYE FINANS KATILIM BANKASI A.S. ISTANBUL 583 WELLS FARGO BANK N.A NEW YORK
513 TURKIYE HALK BANKASI A.S. (H.O.) ANKARA 584 WELLS FARGO BANK N.A LOS ANGELES BR.
514 AKTIF YATIRIM BANKASI A.S. ISTANBUL 585 WOORI AMERICA BANK, NEW YORK NEW YORK
515 ICBC TURKEY BANK A.S. ISTANBUL 586 MIZUHO CORPORATE BANK LTD. NEW YORK
UK 587 WELLS FARGO ADVISORS, LLC CHARLOTTE
516 HABIBSONS BANK LTD 588 WELLS FARGO BANK NA MIAMI
UKRAINE 589 DEUTSCHE BANK AG NEW YORK
517 CREDIT DNEPR BANK, UKRAINE (H.O) DNIPROPETROVSK 590 WELLS FARGO BANK N.A. SAN FRANCISCO,
UNITED ARAB EMIRA CA
518 FIRST GULF BANK ABU DHABI 591 WOORI BANK, LOS ANGELES LOS ANGELES
519 ABUDHABI COMM. BANK ABUDHABI 592 ICICI BANK LTD. NEW YORK
520 AXIS BANK LTD. DUBAI 593 AMERICAN FIRST NATIONAL BANK HOUSTON,TX
521 HABIB BANK AG, DUBAI. ABUDHABI URUGUAY
522 MASHREQ BANK ABUDHABI 594 CITIBANK N.A. MONTEVIDEO
523 NATIONAL BANK OF ABU DHABI ABUDHABI USA
524 NATIONAL BANK OF FUJAIRAH ABUDHABI 595 OCEAN BANK MIAMI
525 STANDARD CHARTERED BANK DUBAI UZBEKISTAN
526 U.A.E. EXCHANGE CENTRE ABU DHABI 596 JOINT STOCK COMMERCIAL BANK
527 UNITED BANK LTD. DUBAI "AGRO BANK" TASHKENT
528 BANK OF BARODA DUBAI VIETNAM
529 EMIRATES BANK INTERNATIONAL PJSC DUBAI 597 BANK OF TOKYO - MITSHUBISHI LTD. HANOI
530 UNIVERSAL EXCHANGE CENTER DUBAI 598 CHINATRUST COMMERCIAL BANK, HO CHI MINH
531 AL ROSTAMANI INTERNATIONAL EXCHANGE DUBAI 599 JOINT STOCK COMMERCIAL BANK FOR
532 BANQUE DE COMMERCE ET DE FOREIGN TRADE OF VIETNAM HANOI
PLACEMENTS SA-DIFC BRANCH DUBAI 600 STANDARD CHARTERED BANK HANOI
533 COMMERCIAL BANK OF DUBAI DUBAI 601 BANK FOR INVESTMENT AND
534 AL FARDAN EXCHANGE ABU DHABI DEVELOPMENT OF VIETNAM HANOI
535 WOORI BANK DUBAI 602 ANZ BANK (VIETNAM) LIMITED HANOI
UNITED KINGDOM 603 ASIA COMMERCIAL BANK HO CHI MINH
536 BANK OF IRELAND (UK) PLC LONDON CITY
537 BANK OF TOKYO - MITSHUBISHI LTD. LONDON ZAMBIA
538 BRITISH ARAB COMMERCIAL BANK LTD. LONDON 604 ZAMBIA NATIONAL COMMERCIAL LUSAKA
539 CITI BANK, N.A LONDON

Auditors’ Report
and
of
UTTARA BANK SECURITIES LIMITED

AUDITORS’ REPORT
TO
THE SHAREHOLDERS’ OF UTTARA BANK SECURITIES LIMITED
We have audited the accompanying Financial Statements of Uttara Bank Securities Limited (“the Company”) which
comprise the Statement of Financial Position as at 31 December 2016, and the Statement of Profit or Loss and Other
Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended, and a
summary of significant accounting policies and other explanatory information disclosed in notes 1 to 26 and Annexure-A.
Management of the company is responsible for the preparation and fair presentation of these Financial Statements in
accordance with Bangladesh Financial Reporting Standards (BFRSs), the Companies Act 1994, the Securities and
Exchange Rules-1987 and other applicable laws and regulations and for such internal control as management
determines is necessary to enable the preparation of Financial Statements that are free from material misstatement,
whether due to fraud or error selecting and applying appropriate accounting policies and making acco unting
estimates that are reasonable in the circumstances.
Our responsibility is to express an opinion on these Financial Statements based on our audit. We conducted our audit
in accordance with Bangladesh Standards on Auditing (BSA). Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Financial
Statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of
material misstatement of the Financial Statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal control relevant to the company’s preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstance, but not for the purpose of
expressing an opinion on the effectiveness of the Company’s internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by management of
the company, as well as evaluating the overall presentation of the Financial Statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the Financial Statements present fairly, give a true and fair view of the financial position of Uttara Bank
Securities Limited as at 31 December 2016 and its financial performance and its cash flows for the year then ended in
accordance with Bangladesh Financial Reporting Standards (BFRSs) and comply with the applicable section of the
Companies Act 1994, the Securities and Exchange Rules-1987 and other applicable laws and regulations.
We also report that
a) we have obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purposes of our audit and made due verification thereof;
b) in our opinion, proper books of account as required by the law have been kept by the Company so far as it
appeared from our examination of these books;
c) the Company’s Statement of Financial Position and Statement of Profit or Loss and Other Comprehensive
Income dealt with by the report are in agreement with the books of account and returns; and
d) the expenditure incurred was for the purpose of the company’s business.
Dated: Dhaka Rahman Mostafa Alam & Co.

21 March 2017 Chartered Accountants

Statement of Financial Position
As at 31 December 2016
Amount in Taka
Particulars Notes
2016 2015
ASSETS
Non-Current Assets 329,640,931 330,237,647
Fixed Assets less Accumulated Depreciation 3.00 9,440,931 10,037,647
Acquisition Cost of DSE TREC 4.00 320,200,000 320,200,000
Current Assets 236,344,021 192,768,622

Advances, Deposits and Prepayments 5.00 200,000 200,000
Advance Income Tax 6.00 10,025,321 6,484,520
Investment in Marketable Securities 7.00 93,835,953 -
Accounts Receivables 8.00 17,944,859 888,191
Other Receivables 9.00 997,500 1,631,252
Cash & Cash Equivalents 10.00 113,340,388 183,564,659
Total Assets 565,984,952 523,006,269
EQUITY AND LIABILITIES
Shareholders' Equity 523,219,209 513,476,214
Share Capital 11.00 500,000,000 500,000,000
Retained Earnings 12.00 23,219,209 13,476,214
Current Liabilities 42,765,743 9,530,055

Accounts Payables 13.00 27,513,842 2,216,000
Provision for Expenses 14.00 105,571 25,296
Provision for Income Tax 15.00 11,385,277 7,288,759
Provision for Diminution in value of Investment 16.00 3,761,053 -
Total Equity and Liabilities 565,984,952 523,006,269
The annexed notes 1 to 26 and Annexure- A form an integral part of these financial statements.
Director Director Director


Statement of Profit or Loss and Other Comprehensive Income
For the year ended 31 December 2016
Amount in Taka
Particulars Notes
2016 2015
Revenue: 27,509,946 12,714,121

Commission Income 17.00 4,017,182 617,939
Interest Income 18.00 5,102,787 11,955,544
Income from Investment 19.00 9,676,556 -
Dividend Income 20.00 8,614,241 -
Other Operating Income 21.00 99,180 140,638
Expenses: 9,909,380 6,658,722

Direct Expenses 22.00 519,247 46,737
Office & Administrative Expenses 23.00 9,313,850 6,548,360
Financial Expenses 24.00 76,283 63,625
Total Profit before Provisions and Tax 17,600,566 6,055,399

Provision for Diminution in value of Investment 16.00 3,761,053 -
Profit / (Loss) before Tax 13,839,513 6,055,399
Provisions for Income Tax 15.00 4,096,518 2,098,167
Net Profit / (Loss) after Tax 9,742,995 3,957,232
Earnings Per Share (EPS) 25.00 0.19 0.08
The annexed notes 1 to 26 and Annexure- A form an integral part of these financial statements.


Statement of Changes in Equity
Retained Total
Particulars Share Capital
Earnings Equity
Balance as at 01 January 2016 500,000,000 13,476,214 513,476,214

Net Profit/ (Loss) for the Year - 9,742,995 9,742,995
Balance as at 31 December 2016 500,000,000 23,219,209 523,219,209

Net Profit/ (Loss) for the Year - 3,957,232 3,957,232

Statement of Cash Flows
Amount in Taka
Particulars
2016 2015
A. Cash Flows from Operating Activities
Net Profit During the Period 9,742,995 3,957,232
9,742,995 3,957,232
Add: Amount Considered as Non Cash Items:
Depreciation & Amortization Charged 1,796,716 579,834
Sub Total of Non Cash Items 1,796,716 579,834
Changes in Workings Capital Components

(Increase)/Decrease in Accounts Receivable (17,056,668) (888,191)
(Increase)/Decrease in Other Receivable 633,752 1,048,957
(Increase)/Decrease in Advances, Deposits and Prepayments - 563,000
(Increase)/Decrease in Advance Income Tax (3,540,801) (4,220,587)
Increase/(Decrease) in Accounts Payable 25,297,842 1,213,014
Increase/(decrease) in Provision for expenses 80,275 14,299
Increase/(decrease) in Provision for diminution in value of
3,761,053 -
investment
Increase/(Decrease) in Provision for Current Tax 4,096,518 2,098,167
13,271,971 (171,341)
Net Cash Flows from Operating Activities 24,811,682 4,365,725
B. Cash Flow from Investing Activities

Fixed Assets Acquisition (1,200,000) (10,617,481)
Investment in securities (93,835,953) -
Net Cash Flows from Investing Activities (95,035,953) (10,617,481)
C. Cash Flows from Financing Activities
- -
Net Cash Used in Financing Activities - -
D. Net Cash Increase/ (Decrease) (A+B+C) (70,224,271) (6,251,756)
E. Cash and Cash Equivalents at the Beginning of the Year 183,564,659 189,816,415
F. Cash and Cash Equivalents at the End of the Year 113,340,388 183,564,659
Cash and Cash Equivalents
Cash in Hand 10,300 23,655
Cash at Bank 113,330,088 183,541,004
113,340,388 183,564,659

Note: 01. Status & Activities:

a. Legal Form:
Uttara Bank Securities Limited ("the Company") was incorporated as a public limited
company with the Registrar of Joint Stock Companies and Firms, Dhaka, Bangladesh on
13 June 2013 under the Companies Act, 1994 bearing registration no-C- 109691/13. The
company is a subsidiary of Uttara Bank Limited.
b. Address of Registered Office and Principal Place of Business:

The registered office as well as the principal place of business of the company is located at
Uttara Bank Bhaban, 47, Shahid Bir Uttam Asfaqus Samad Sarak (Former 90, Motijheel
C/A) Dhaka - 1000.
c. Activities & Nature of Business:

The company is a Trading Right Entitlement Certificate (TREC) holder of Dhaka Stock
Exchange Limited and also a full service DP of Central Depository Bangladesh Limited
(CDBL). The main activities of the company is to act as a TREC holder of stock exchange
and to carry on the business of Stock-Dealer and Stock-Broker in stocks, shares, securities,
bonds, mutual funds and other financial instruments as mention in the Memorandum &
Articles of Association of the Company under the rules and regulations of the Bangladesh
Securities and Exchange Commission (BSEC), Dhaka Stock Exchange Limited (DSE),
Central Depository Bangladesh Limited (CDBL) and other related bodies. Uttara Bank
Securities Limited possesses the following registrations and licenses from various regulatory
authorities:
License/
Name of Authority Purpose
Registration
Bangladesh Securities and Exchange 3.1/DSE-
Stock Dealer Business with DSE
Commission (BSEC) 250/2014/518
Bangladesh Securities and Exchange 3.1/DSE-
Stock Broker Business with DSE
Commission (BSEC) 250/2014/519
Bangladesh Securities and Exchange Depository Functions with Central
CDBL-DP 408
Commission (BSEC) Depository Bangladesh Limited (CDBL)
Dhaka Stock Exchange Limited (DSE) TREC No. 250 Trading with DSE

Note: 02. Significant Accounting Policies & Disclosures:
a. Compliance with International Accounting Standards (IASs):
The Financial Statements have been prepared in compliance with the requirements of
International Accounting Standards (IASs) as adopted by the Institute of Chartered
Accountants of Bangladesh (ICAB) as Bangladesh Accounting Standards (BASs) applicable
in Bangladesh.
b. Compliance with International Financial Reporting Standards (IFRSs):

The financial statements of the company under reporting have been prepared in accordance
with the applicable International Financial Reporting Standards (IFRSs) as adopted by the
Institute of Chartered Accountants of Bangladesh (ICAB) as Bangladesh Financial Reporting
Standards (BFRSs) applicable in Bangladesh.
c. Compliance with Laws:

The financial statements have been prepared in compliance with the requirements of the
Companies Act 1994 & other relevant laws & rules as applicable.
d. Accounting Convention and Basis:

These Financial Statements have been prepared under the historical cost convention and
going concern basis in accordance with applicable Bangladesh Accounting Standards which
complies with the requirements of the Companies Act 1994.
e. Going Concern Basis:

The company has adequate resources to continue its operation for the foreseeable future. For
this reasons the directors continue to adopt going concern basis following accrual basis
accounting in preparing the financial statements.
f. Reporting Period:
The financial period of the company covers one calendar year from 01 January 2016 to
31 December 2016.
g. Functional and Presentational Currency:

The financial statements are prepared and presented in Bangladesh Currency (Taka), which is
the company’s functional currency. All financial information presented has been rounded off
to the nearest Taka.
h. Comparative Information:
Comparative information has been disclosed in respect of the year 2015 for all numerical
information in the Statement of Financial Position, Statement of Profit or Loss and Other
Comprehensive Income, Statement of Cash Flows for understanding of the current year’s
financial statements.
i. Rearrangements:
Wherever considered necessary, previous year’s figures have been rearranged for the purpose
of comparison with current period’s presentation without any impact on the profit/(Loss) and
value of assets and liabilities as reported in the Financial Statements.

j. Components of the Financial Statements:
According to the International Accounting Standards (IAS – 01) as adopted by ICAB as BAS
01: Presentation of Financial Statements, the complete set of financial statements includes
the following components:
a. Statement of Financial Position.
b. Statement of Profit or Loss and Other Comprehensive Income.
c. Statement of Cash Flows.
d. Statement of Changes in Equity.
e. Notes to the Financial Statements.
k. Recognition & Measurement of Fixed Assets:

Fixed Assets are capitalized at historical cost and subsequently stated at cost less
accumulated depreciation.
l. Depreciation:
Depreciation is calculated on the cost of fixed assets in order to write off such amounts over
the estimated useful lives of such assets. The rates of depreciation used on a straight-line
method are as follows:
Name of Fixed Assets Depreciation Rate (%)

Computer & Computer Equipment 20
Furniture and Fixture 10
Software 20
Electrical Equipment 20
Office Decoration 10
a) All fixed assets will be stated at cost less accumulated depreciation as per BAS-16
“Property, Plant and Equipment”.
b) Depreciation at applicable rates will be charged on additions to fixed assets from the
month of acquisition of the assets (full month).
c) Upon sale or retirement of any item of fixed assets, depreciation will be charged up to the
month of disposal or retirement, the net book value will be eliminated from accounts and
any resulting gain or loss will be transferred to profit and loss account.
m. Accrual Expenses and Other Payable:

Liabilities are recognized for the goods and services received, whether paid or not for those
goods and services. Payables are not interest bearing stated at their nominal value.

n. Cash Flow Statement:
Cash Flow Statement is prepared principally in accordance with the BAS 07: Cash Flow
Statement. Cash and Cash Equivalents are carried in the Balance Sheet at cost and include
cash in hand and with banks on Current, Short Term Deposit and Fixed Deposit Accounts,
which are held available for use by the company without any restriction.
o. Use of Estimates and Judgments:

The preparation of financial statements requires management to make estimates and
assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. It
also requires disclosures of contingent assets and liabilities at the year end.
Provisions and accrued expenses are recognized in the financial statements in line with
Bangladesh Accounting Standard (BAS) 37: “Provisions, Contingent Liabilities and
Contingent Assets” when the Company has a legal or constructive obligation as a result of
past event; and
i. It is probable that an outflow of economic benefit will be required to settle the obligation.
ii. A reliable estimate can be made for the amount of the obligation.
p. Earnings Per Share

The company calculates earnings per share in accordance with Bangladesh Accounting
Standard (BAS)-33 “Earnings per Share” which has been shown in the face of the Statement
of Profit or Loss and Other Comprehensive Income.

Amount in Taka
2016 2015
3.00 Fixed Assets less Accumulated Depreciation
A. Cost
Opening Balance 10,617,481 -
Add: Addition during the year 1,200,000 10,617,481
Total acquisition of Fixed Assets 11,817,481 10,617,481
Less: Disposal during the year - -
Closing Balance 11,817,481 10,617,481
B. Depreciation
Opening Balance 579,834 -
Add: Charged during the year 1,796,716 579,834
Accumulated Depreciation 2,376,550 579,834
Less: Adjustment made during the year - -
Closing Balance 2,376,550 579,834
Written Down Value of Fixed Assets (A-B) 9,440,931 10,037,647

A schedule of Fixed Assets is given in Annexure-A
4.00 Acquisition Cost of DSE TREC 320,200,000 320,200,000
As per the provision of the Exchange Demutualization Act, 2013 and in accordance with
the BSEC approved Demutualization Scheme, DSE has allotted 7,215,106 ordinary
shares in favour of Uttara Bank Securities Limited out of which 2,886,042 (40%) shares
have been transferred by Exchange to the company's BO account and remaining
4,329,064 (60%) shares have been kept in DSE Demutualization Block Account for
disposal in due course getting future guidelines and advice from the regulator.
5.00 Advances, Deposits and Prepayments
Security Deposit to CDBL 200,000 200,000
200,000 200,000
6.00 Advance Income Tax
Opening Balance 6,484,520 2,263,933
Corporate Tax 3,427,796 547,614
TDS on FDR & STD Interest 2,983,652 1,714,625
TDS on Turnover 73,072 1,694
Add. Advance Income Tax for the year 2015 634,084 2,880,182
Corporate Tax 634,084 2,880,182
Add. Advance Income Tax for the year 2016 2,906,717 1,340,405
TDS on FDR & STD Interest 566,274 1,269,027
TDS on Turnover 659,606 71,378
TDS on Dividend Income 1,680,837 -
10,025,321 6,484,520

Amount in Taka
2016 2015
7.00 Investment in Marketable Securities
Investment in Marketable Securities represent the 93,835,953 -
cost price of securities which have been invested by 93,835,953 -
the company in the capital market.
8.00 Accounts Receivables

Receivable from Clients 1,956,947 1,327
Receivable from DSE 147,930 886,864
Receivable from Sale of Marketable Securities 15,839,982 -
17,944,859 888,191
9.00 Other Receivables

Accrued Interest on FDR 787,500 1,631,252
Dividend on Investment in Marketable Securities (Note-9.01) 210,000 -
997,500 1,631,252
9.01 Dividend on Investment in Marketable Securities

Aramit Ltd. 20,000 -
Dhaka Electric Supply Company Ltd. 50,000 -
IFAD Autos Ltd. 65,000 -
Shahjibazar Power Co. Ltd. 75,000 -
210,000 -
10.00 Cash & Cash Equivalents

Cash in Hand 10,300 23,655
Cash at Bank (Note - 10.01) 113,330,088 183,541,004
113,340,388 183,564,659
10.01 Cash at Bank

Amount Amount
Name of the Bank A/c Type A/c Number
(Tk.) (Tk.)
ONE Bank Limited SND-Client 0013000000853 8,385,974 2,502,142
ONE Bank Limited SND-Dealer 0013000001492 25,600,762 -
Uttara Bank Limited SND-Corporate 0014100041150 6,880,290 79,971,018
Uttara Bank Limited SND-IPO 0014100041158 1,147,570 5,219
Uttara Bank Limited C/A-Corporate 0012200212459 1,315,492 1,062,625
Uttara Bank Limited FDR 0025100514688 70,000,000 -
Uttara Bank Limited FDR 0025100514366 - 100,000,000
113,330,088 183,541,004

Amount in Taka
2016 2015
11.00 Share Capital

Authorised Capital
(100,000,000 Ordinary shares of Tk.10 each) 1,000,000,000 1,000,000,000
Issued, Subscribed & Paid-up Capital
(50,000,000 Ordinary shares of Tk.10 each) 500,000,000 500,000,000
Percentage of Shareholdings as on 31 December 2016
Name of Shareholders No. of Shares Amount (Tk.) % of Holdings
a) Corporate
Uttara Bank Limited 49,997,000 499,970,000 99.994
b) Individual
Mr. Iftekharul Islam 500 5,000 0.001
Engr. Mahmud Husain 500 5,000 0.001
Engr. Sk. Mohd. Ahsanullah 500 5,000 0.001
Engr. A. F. M. Iqbal 500 5,000 0.001
Ar. Abul Quasem Md. Musa 500 5,000 0.001
Mr. Kamal Akhtar 500 5,000 0.001
50,000,000 500,000,000 100.00
12.00 Retained Earnings

Opening Balance 13,476,214 9,518,982
Add: Profit/ (Loss) during the year 9,742,995 3,957,232
23,219,209 13,476,214
13.00 Accounts Payable

Payable to Clients 18,863,515 2,214,448
Payable to DSE 7,150,327 1,552
IPO Application Money 1,140,000 -
Payable to Lead Soft Bangladesh Ltd. 360,000 -
27,513,842 2,216,000
14.00 Provision for Expenses

Audit Fees 15,000 15,000
VAT Payable on Audit Fees 2,250 2,250
CDBL Expenses 53,246 8,046
Dhaka Guard Limited 14,775 -
Link3 Limited 13,800 -
Amber IT Limited 6,500 -
105,571 25,296

Amount in Taka
2016 2015
15.00 Provision for Income Tax

Opening Balance 7,288,759 5,190,592
Add: Provision made during the Year 4,096,518 2,098,167
11,385,277 7,288,759
16.00 Provision for Diminution in value of Investment

Unrealized loss of investment in Marketable Securities 3,761,053 -
3,761,053 -
17.00 Commission Income

Commission Income means the amount of commission 4,017,182 617,939
charged against the total volume of trades of shares, 4,017,182 617,939
debentures, bonds, mutual funds and any other securities
listed in Dhaka Stock Exchange Limited through Uttara
Bank Securities Limited during the year.
18.00 Interest Income

Interest Income on Bank Deposit (Note- 18.01) 4,817,606 11,955,544
Interest on Margin Loan 285,181 -
5,102,787 11,955,544
18.01 Interest Income on Bank Deposit

Name of the Amount Amount
A/c Type A/c number
Bank (Tk.) (Tk.)
Uttara Bank Limited FDR 0025100514688 3,631,250 -
Uttara Bank Limited FDR 0025100514366 181,250 7,531,944
Uttara Bank Limited FDR 0025100514367 - 2,012,847
Uttara Bank Limited SND-Corporate 0014100041150 270,116 2,351,422
Uttara Bank Limited SND-IPO 0014100041158 2,766 6,140
ONE Bank Limited SND-Client 0013000000853 215,798 53,191
ONE Bank Limited SND-Dealer 0013000001492 516,426 -
4,817,606 11,955,544

Amount in Taka
2016 2015
19.00 Income from Investment

Capital Gain from Investment in Marketable Securities 9,676,556 -
9,676,556 -
20.00 Dividend Income

Dhaka Stock Exchange Ltd. 7,215,106 -
Al-Arafah Islami Bank Ltd. 50,000 -
Aramit Ltd. 20,000 -
Bangladesh Steel Re-Rolling Mills Ltd. 25,312 -
Dhaka Electric Supply Company Ltd. 50,000 -
Far East Knitting & Dyeing Industries Ltd. 443,823 -
Heidelberg cement Bangladesh Ltd. 360,000 -
IFAD Autos Ltd. 65,000 -
Lafarge Surma Cement Ltd. 10,000 -
Lanka Bangla Finance Ltd. 300,000 -
Shahjibazar Power Co. Ltd. 75,000 -
8,614,241 -
21.00 Other Operating Income

BO Account Opening Fee 18,850 40,700
BO Account Renewal Fee 46,500 10,100
Bulk Account Transfer Fee 15,918 84,140
Corporate Action Fee 17 -
Demat of Existing Securities Fee 2,523 789
Demat of New Securities (IPO) Fee - 4
IPO Application Fee 12,610 4,905
Pledging Fee 2,762 -
99,180 140,638
22.00 Direct Expenses

DSE Transaction Fee 329,803 35,689
CDBL Expenses - Daily Settlement (Pay In/Out) 189,444 11,048
519,247 46,737

Amount in Taka
2016 2015
23.00 Office & Administrative Expenses

Salary & Allowances 5,184,054 3,758,389
Rent, Taxes, Insurance, Electricity etc. (Note- 23.01) 1,385,100 1,349,156
Renewal and Registration Fees (Note- 23.02) 195,080 100,000
Postage, Stamp, Telecommunication etc. (Note- 23.03) 248,188 253,927
Stationery, Printing, Advertisements etc. (Note- 23.04) 72,541 215,097
Directors' Fees and Meeting Expenses (Note- 23.05) 90,981 63,783
Audit Fees 15,000 15,000
Depreciation on Fixed Assets (Note-3 & Annexure A) 1,796,716 579,834
Other Operating Expenses (Note- 23.06) 326,190 213,174
9,313,850 6,548,360
23.01 Rent, Taxes, Insurance, Electricity etc.

Office Rent 1,170,000 1,170,000
Rates & Taxes 215,100 179,156
1,385,100 1,349,156
23.02 Renewal and Registration Fees

Trade License Fees 49,080 16,000
Stock Broker & Stock Dealer Certificate Fees 20,000 20,000
DP Registration Fees 4,000 4,000
TREC Registration Fees 50,000 50,000
Authorized Representative Registration Fees 32,000 10,000
Trader Work Station Registration Fees 5,000 -
TREC Holder Representative Fees 10,000 -
Annual Subscription for DBA Membership 25,000 -
195,080 100,000
23.03 Postage, Stamp, Telecommunication etc.

Telephone Expenses 16,967 18,754
Internet Connectivity Charge 229,961 230,817
Government Fees & Stamp Duty 1,260 4,356
248,188 253,927

Amount in Taka
2016 2015
23.04 Stationery, Printing, Advertisements etc.
Printing & Stationery 72,541 33,225
Computer Paper, Ribbon & Cartridge - 33,752
Advertisement & Publicity - 148,120
72,541 215,097
23.05 Directors' Fees and Meeting Expenses

Directors' Fees 62,000 56,000
Board Meeting Expenses 28,981 7,783
90,981 63,783
23.06 Other Operating Expenses

CDBL Charges-CDS Connection Fee 6,000 6,500
Entertainment 31,824 39,146
Office Maintenance 26,622 123,872
Conveyance 7,315 5,215
Investor Protection Fund Charges 867 45
Security Guard expense 193,000 -
RJSC Expenses 58,175 10,000
Miscellaneous Expenses 2,387 20,596
Business Promotional Expenses - 7,800
326,190 213,174
24.00 Financial Expenses

Bank Charge 8,783 4,625
Govt. Excise Duty 67,500 59,000
76,283 63,625
25.00 Earnings Per Share (EPS)

Net Profit after Tax 9,742,995 3,957,232
Number of Ordinary Share 50,000,000 50,000,000
0.19 0.08
26.00 Approval of the Financial Statements

These Financial Statements were authorised for issue by the Board of Directors of the
Company on 21 March 2017.

SCHEDULE OF FIXED ASSETS
Annexure-A
Amount in Taka
Cost Depreciation Written
Balance Addition Balance Rate of Balance Charged Balance Down
Particulars as on during the as on Depreciation as on during as on Value as
01.01.16 year 31.12.16 (%) 01.01.16 the 31.12.16 on
year 31.12.16
Electrical 1,868,496 - 1,868,496 20.00 186,850 373,699 560,549 1,307,947

Equipment
Furniture 756,216 - 756,216 10.00 37,811 75,622 113,433 642,783

& Fixtures
Computer 2,291,179 - 2,291,179 20.00 229,118 458,236 687,354 1,603,825

&
Computer
Equipment
Office 4,911,590 - 4,911,590 10.00 47,055 491,159 538,214 4,373,376

Decoration
Software 790,000 1,200,000 1,990,000 20.00 79,000 398,000 477,000 1,513,000
Total 10,617,481 1,200,000 11,817,481 579,834 1,796,716 2,376,550 9,440,931
Closing - 10,617,481 10,617,481 - 579,834 579,834 10,037,647

Balance
2015

Auditors’ Report
and
of
UB CAPITAL AND INVESTMENT LIMITED

AUDITORS’ REPORT
TO
THE SHAREHOLDERS’ OF UB CAPITAL AND INVESTMENT LIMITED
We have audited the accompanying Financial Statements of UB Capital and Investment Limited (“the Company”)
which comprises the Statement of Financial Position as at 31 December 2016 and the Statement of Profit or Loss and
Other Comprehensive Income, Statement of Changes in Equity, Statement of Cash Flows for the year then ended and a
summary of significant accounting policies and other explanatory information disclosed in notes 1.00 to 12.00.

Management of the company is responsible for the preparation and fair presentation of these Financial Statements in
accordance with Bangladesh Financial Reporting Standards, the Companies Act 1994, the Securities and Exchange
Rules 1987 and other applicable laws and regulations and for such internal control as management determines is
necessary to enable the preparation of the Financial Statements that are free from material misstatement, whether
due to fraud or error selecting and applying appropriate accounting policies and making accounting e stimates that
are reasonable in the circumstances.
Our responsibility is to express an opinion on these Financial Statements based on our audit. We conducted our audit
in accordance with Bangladesh Standards on Auditing. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether the Financial Statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Financial
Statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of
material misstatement of the Financial Statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal control relevant to the company’s preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstance, but not for the purpose of
expressing an opinion on the effectiveness of the Company’s internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by management of
the company as well as evaluating the overall presentation of the Financial Statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the Financial Statements present fairly, give a true and fair view of the Financial Position of UB Capital
and Investment Limited as at 31 December 2016 and its financial performance and its cash flows for the year then ended
in accordance with Bangladesh Financial Reporting Standards (BFRS) and comply with the applicable section of the
Companies Act 1994, the Securities and Exchange Rules 1987 and other applicable laws and regulations.
We also report that

a) we have obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purposes of our audit and made due verification thereof;
b) in our opinion, proper books of account as required by the law have been kept by the Company so far as it
appeared from our examination of these books;
c) the Company’s Statement of Financial Position and Statement of Profit or Loss and Other Comprehensive
Income dealt with by the report are in agreement with the books of account and returns; and
d) the expenditure incurred was for the purpose of the company’s business.


Statement of Financial Position
As at 31 December 2016
Amount in Taka
Particulars Notes
2016 2015
Assets
Current Assets
Interest Receivable on FDR 1,018,152 1,648,398
Advances, Deposits & Prepayments 3.00 18,589,664 15,718,902
Cash & Cash Equivalents 4.00 137,187,791 134,264,541
Total Assets 156,795,607 151,631,841
Shareholders' Equity and Liabilities

Shareholders' Equity
Paid up Capital 5.00 100,000,000 100,000,000
Retained Earnings 6.00 35,486,318 32,262,714
Total Shareholders' Equity 135,486,318 132,262,714
Liabilities
Current Liabilities
Provision for Expenses 7.00 17,500 11,500
Provision for Income Tax 8.00 21,291,789 19,357,627
Total Liabilities 21,309,289 19,369,127
Total Shareholders' Equity and Liabilities 156,795,607 151,631,841
The annexed notes 1.00 to 12.00 form an integral part of these Financial Statements.
Managing Director Director Director


Statement of Profit or Loss and Other Comprehensive Income
Amount in Taka
Particulars Notes
2016 2015
Operating Income
Interest Income 9.00 6,979,488 10,008,877
Total Operating Income 6,979,488 10,008,877
Operating Expenses
Rent, Taxes, Insurance, Electricity etc. 10.00 1,643,772 1,624,296

Legal Fees - 43,000
Stationery, Printing, Advertisements etc. 680 1,115
Directors’ Fees 32,000 24,000
Auditors’ Fees 10,000 10,000
Other Expenses 11.00 135,270 86,990
Total Operating Expenses 1,821,722 1,789,401
Net Profit before Tax 5,157,766 8,219,476
Provision for Tax 8.01 1,934,162 3,082,303
Net Profit after Tax 3,223,604 5,137,173
The annexed notes 1.00 to 12.00 form an integral part of these Financial Statements.


Statement of Changes in Equity
(Amount in Taka)
Retained
Particulars Paid up Capital Total
Earnings
Net Profit after Tax - 3,223,604 3,223,604

Statement of Cash Flows
Amount in Taka
Particulars
2016 2015
A. Cash flows from Operating activities

Interest Receipts in cash 7,609,734 9,921,244
Income Tax paid (2,857,521) (2,304,109)
Payments for Operating activities (1,815,722) (1,787,901)
Operating profit before changes in Operating Assets and Liabilities 2,936,491 5,829,234
Increase/(decrease) in Operating Assets and Liabilities

Other Assets (13,241) 17,115
Other Liabilities - -
(13,241) 17,115
Net cash (used in)/received from Operating activities 2,923,250 5,846,349
B. Cash flows from Investing activities - -

Net cash (used in)/received from Investing activities - -
C. Cash flows from Financing activities - -

Net cash (used in)/received from Financing activities - -
Net increase/(decrease) in Cash and Cash Equivalents (A+B+C) 2,923,250 5,846,349

Cash and Cash Equivalents at the beginning of the year 134,264,541 128,418,192
Cash and Cash Equivalents at the end of the year 137,187,791 134,264,541

As at and for the year ended 31 December 2016
1.00 Company and its activities

1.01 Status of the Company
UB Capital and Investment Limited was incorporated as a Public Limited Company with
the Registrar of Joint Stock Companies and Firms Dhaka, Bangladesh on 28 September
2010 under the Companies Act 1994 bearing registration no C-87220/10. The Registered
Office of the company is at 47, Shahid Bir Uttam Asfaqus Samad Sarak, (Former 90,
Motijheel C/A), Dhaka. The company is a subsidiary of Uttara Bank Limited.
1.02 Nature of Business

The main activities of the company is to act as a full fledged merchant banker and
portfolio manager to provide services like underwriting public issue of shares, buy and
sell of shares / securities on behalf of clients under portfolio management operation etc.
The company is also authorized to buy, sell, hold or otherwise acquire or invest the
capital of the company in shares, stocks and fixed income securities.
2.00 Significant Accounting Policies and Basis of Preparations

2.01 Statement of Compliance
The Financial Statements have been prepared on the going concern basis under the
historical cost concept in accordance with the Bangladesh Financial Reporting
Standards, the Companies Act 1994, the Securities and Exchange Rules 1987 and other
relevant Laws and Regulations.
2.02 Basis of Measurement

The Financial Statements are prepared on Historical Cost Convention.
2.03 Use of Estimates and Assumptions

The preparation of the Financial Statements requires management to use judgments,
estimates and assumptions that affect the application of accounting policies and the
reported amounts of assets, liabilities, income and expenses. Actual results may differ
from these estimates. Estimates and underlying assumptions are reviewed on an
ongoing basis. Revisions to accounting estimates are recognized in the period in which
the estimate is revised and in any future periods affected. However, no such revision to
accounting estimates took place during the reporting period.

2.04 Reporting Period
The financial period of the Company covers its period from 01 January 2016 to 31
December 2016.
2.05 Components of Financial Statements

According to Bangladesh Accounting Standard-1 "Presentation of Financial
Statements" are comprises of following components:
i). Statement of Financial Position
ii). Statement of Profit or Loss and Other Comprehensive Income
iii). Statement of Changes in Equity
iv). Statement of Cash Flows and
v). Notes to the Financial Statements
2.06 Income and Expenditure

Income and Expenditure are recognized on accrual basis. Income are only recognized if
its realization is reasonably certain. The Company will commence its operation after
obtaining license from the Bangladesh Securities and Exchange Commission (BSEC).

Provision for Expenses is recognized when the company has a present obligation as a
result of a past event and it is probable that an outflow of resources embodying
economic benefits will be required to settle the obligations and reliable estimate of the
amount can be measured. Expenditure has been recognized on accrual basis and
provision has been made for known liabilities.
2.08 Rearrangements
Wherever considered necessary, previous year's figures have been rearranged for the
purpose of comparison with current year’s presentation without any impact on the profit
and value of assets and liabilities as reported in the Financial Statements.
2.09 General
a) The Financial Statements are prepared in Bangladeshi Taka which is both functional
currency and presentation currency of the company.
b) The figures of the Financial Statements have been rounded off to the nearest Taka.

Amount in Taka
2016 2015
3.00 Advances, Deposits & Prepayments
Prepaid expenses 123,256 110,015
Advance Income Tax (Note - 3.01) 18,466,408 15,608,887
18,589,664 15,718,902
3.01 Advance Income Tax
Opening balance
Advance Corporate Tax 8,382,263 7,074,000
TDS on Interest Income on FDR & SB accounts 7,226,624 6,230,778
15,608,887 13,304,778
Add: Paid during the year
Advance Corporate Tax 2,086,458 1,308,263
TDS on Interest Income on FDR & SB accounts 771,063 995,846
2,857,521 2,304,109
18,466,408 15,608,887
4.00 Cash & Cash Equivalents
Cash in Hand 1,320 -
Cash at Bank with Uttara Bank Limited
Current account 20,920 58,645
Savings Bank account 10,774,301 368,761
Fixed Deposit Receipt account 126,391,250 133,837,135
137,186,471 134,264,541
137,187,791 134,264,541
5.00 Share Capital
Authorized Capital
100,000,000 Ordinary Shares of Tk. 10/- each 1,000,000,000 1,000,000,000
Issued, Subscribed & Paid up Capital
10,000,000 Ordinary Shares of Tk. 10/- each 100,000,000 100,000,000
100,000,000 100,000,000
Percentage of Shareholdings as on 31 December 2016

% of Share
Name of the Shareholders No. of Shares Face value
holdings
a) Corporate
Uttara Bank Limited 99.994 9,999,400 99,994,000
b) Individual
Mr. Iftekharul Islam 0.001 100 1,000
Capt. Serajul Huda (Retd.) 0.001 100 1,000
Mr. Md. Majibullah Khan 0.001 100 1,000
Mr. Abul Barq Alvi 0.001 100 1,000
Dr. Md. Rezaul Karim Mazumder 0.001 100 1,000
Mr. Md. Golam Mustafa 0.001 100 1,000
Total 100.000 10,000,000 100,000,000

Amount in Taka
2016 2015
6.00 Retained Earnings

Opening balance 32,262,714 27,125,541
Add: Net Profit after Tax 3,223,604 5,137,173
35,486,318 32,262,714
Audit fee payable 10,000 10,000
Tax payable 2,400 -
VAT payable 5,100 1,500
17,500 11,500
8.00 Provision for Income Tax
Opening balance 19,357,627 16,275,324
Add: Provision made during the year (Note - 8.01) 1,934,162 3,082,303
21,291,789 19,357,627
8.01 Provision made during the year
Net Profit before Tax 5,157,766 8,219,476
Effective Tax rate 37.50% 37.50%
1,934,162 3,082,303
9.00 Interest Income
Fixed Deposit Receipt account 6,777,689 9,934,450
Savings Bank account 201,799 74,427
6,979,488 10,008,877
10.00 Rent, Taxes, Insurance, Electricity etc.
Office Rent 1,441,440 1,441,440
Rates & Taxes 202,332 182,856
1,643,772 1,624,296
11.00 Other Expenses
Professional Fees - 15,000
Entertainment 24,025 -
Renewal Fees 81,550 -
Bank Charges 24,250 28,490
Misc. Expenses 5,445 43,500
135,270 86,990
12.00 Approval of the Financial Statements
These Financial Statements were authorised for issue by the Board of Directors of the
Company on 21March 2017.


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Annual Report | 2016 10

Subject: Annual Report for the year ended 31 December 2016.

This is for your kind information and record please.

10 Annual Report | 2016

Annual Report | 2016 10

Name of the Company : Uttara Bank Limited

Registered Office : 47, Shahid Bir Uttam Asfaqus Samad Sarak,

Telephone : PABX 9551162

Tele-fax : 88-02-7168376, 88-02-9553081,

Swift Code : UTBLBDDH

Email : headoffice@uttarabank-bd.com, pa.md@uttarabank-bd.com

Vice Chairman : Mr. Iftekharul Islam

Managing Director & CEO : Mr. Mohammed Rabiul Hossain

Company Secretary : Mr. Iftekhar Zaman

Chief Financial Officer (CFO) : Mr. Md. Golam Mustafa, FCA

Annual Report | 2016 5

The Directors attending the 33rd Annual General Meeting

Signature verification of the Shareholders

A view of the Shareholders attending the 33rd Annual General Meeting

6 Annual Report | 2016

Annual Report | 2016 7

Chairman Mr. Azharul Islam

Vice Chairman Mr. Iftekharul Islam

Members Mr. Syed A.N.M. Wahed Director

Engr. Tofazzal Hossain Director

Mr. Arif Rahman Director

Mr. Abul Barq Alvi Director

Dr. Md. Nazmul Karim Chowdhury Independent Director

Mr. M. Tajul Islam Director

Mr. Md. Kamal Akhtar Independent Director

Dr. Md. Rezaul Karim Mazumder Independent Director

Col. Engr. M.S. Kamal (Retd.) Director

Mr. Asif Rahman Director

Mr. Faruque Alamgir Director

Mr. Shaikh Abdul Aziz Director

Mr. Mohammed Rabiul Hossain Managing Director & CEO

Secretary Mr. Iftekhar Zaman

8 Annual Report | 2016

Chairman Mr. Azharul Islam

Chairman Dr. Md. Rezaul Karim Mazumder

RISK MANAGEMENT COMMITTEE

Chairman Mr. Iftekharul Islam

Shafiq Basak & Co. Rahman Mostafa Alam & Co.

Annual Report | 2016 9

Mr. Azharul Islam is the Chairman of the Board of Directors of the

Mr. Iftekharul Islam, a prominent and promising industrialist of the

10 Annual Report | 2016

Engr. Tofazzal Hossain hails from a noble family of Dhaka District.

Engr. Tofazzal Hossain

Mr. Arif Rahman, was born on the 24th November in 1970 in

Mr. Arif Rahman

Annual Report | 2016 11

Dr. Md. Nazmul Karim Chowdhury, an Independent Director of the

12 Annual Report | 2016

Annual Report | 2016 13

Col. Engr. M. S. Kamal (Retd.) comes of a respectable and noble family

14 Annual Report | 2016

Mr. Faruque Alamgir was born on the 5th November in 1946 in a

Annual Report | 2016 15

16 Annual Report | 2016

Annual Report | 2016 17

18 Annual Report | 2016

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20 Annual Report | 2016